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

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

Avinger Price Performance

Shares of NASDAQ:AVGR opened at $0.83 on Tuesday. Avinger has a 1 year low of $0.70 and a 1 year high of $5.45. The business has a fifty day moving average price of $0.89 and a two-hundred day moving average price of $1.44. The company has a market capitalization of $2.66 million, a PE ratio of -0.08 and a beta of 1.15.

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

Institutional Investors Weigh In On 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) in the second quarter, according to its most recent Form 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 about 2.57% of Avinger at the end of the most recent quarter. 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.