StockNews.com Begins Coverage on Avinger (NASDAQ:AVGR)

Stock analysts at StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a report released on Saturday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Stock Performance

NASDAQ:AVGR opened at $0.78 on Friday. The firm’s fifty day moving average is $1.00 and its 200-day moving average is $1.84. Avinger has a 52 week low of $0.76 and a 52 week high of $5.45. The firm has a market cap of $1.79 million, a P/E ratio of -0.06 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last released 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 analyst estimates of $2.55 million. As a group, sell-side analysts anticipate that Avinger will post -4.69 earnings per share for the current year.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new position in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger as of its most recent SEC filing. 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.