Avinger (NASDAQ:AVGR) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued to investors on Saturday. The firm issued a hold rating on the medical device company’s stock.

Avinger Trading Down 14.9 %

NASDAQ AVGR opened at $0.82 on Friday. The firm’s fifty day simple moving average is $0.82 and its two-hundred day simple moving average is $1.14. The firm has a market capitalization of $2.72 million, a P/E ratio of -0.07 and a beta of 1.14. Avinger has a 12-month low of $0.39 and a 12-month high of $5.45.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.03) by $0.21. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. The firm had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. During the same quarter in the previous year, the company posted ($2.92) EPS. As a group, sell-side analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger at the end of the most recent reporting period. 18.30% of the stock is currently owned by institutional investors.

Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) primarily in the United States and Germany. The company develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures.