Avinger (NASDAQ:AVGR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a report published on Tuesday morning. The firm issued a hold rating on the medical device company’s stock.

Avinger Price Performance

Shares of NASDAQ:AVGR opened at $0.56 on Tuesday. The business’s 50-day moving average is $0.76 and its 200 day moving average is $1.01. The firm has a market capitalization of $1.86 million, a P/E ratio of -0.05 and a beta of 1.15. Avinger has a 1 year low of $0.39 and a 1 year high of $5.45.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.03) by $0.21. The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same period in the prior year, the company earned ($2.92) earnings per share. On average, analysts expect that Avinger will post -4.69 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger at the end of the most recent reporting period. 18.30% of the stock is 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.