Avinger (NASDAQ:AVGR) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Stock Down 3.5 %

NASDAQ AVGR opened at $0.95 on Tuesday. The stock’s 50-day simple moving average is $1.19 and its two-hundred day simple moving average is $2.22. Avinger has a twelve month low of $0.90 and a twelve month high of $6.55. The company has a market capitalization of $1.62 million, a price-to-earnings ratio of -0.05 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The company had revenue of $1.85 million during the quarter, compared to the consensus estimate of $2.55 million. On average, equities analysts expect that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Trading of Avinger

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

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.