Avinger (NASDAQ:AVGR) Now Covered by Analysts at StockNews.com

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

Avinger Price Performance

AVGR stock opened at $0.80 on Wednesday. Avinger has a 52-week low of $0.70 and a 52-week high of $5.45. The company’s 50 day simple moving average is $0.87 and its 200-day simple moving average is $1.33. The firm has a market capitalization of $2.56 million, a P/E ratio of -0.07 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data 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 analyst estimates of $1.60 million. During the same quarter in the prior year, the business earned ($2.92) EPS. Sell-side analysts predict that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Trading of Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in 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 approximately 2.57% of Avinger as of its most recent SEC filing. 18.30% of the stock is owned by institutional investors and hedge funds.

About Avinger

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.