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

StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a research note released on Saturday. The firm issued a hold rating on the medical device company’s stock.

Avinger Stock Performance

NASDAQ:AVGR opened at $0.97 on Friday. Avinger has a fifty-two week low of $0.39 and a fifty-two week high of $5.45. The business has a 50 day moving average price of $0.82 and a 200-day moving average price of $1.16. The firm has a market cap of $3.19 million, a PE ratio of -0.09 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results 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. The business 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 quarter last year, the firm earned ($2.92) EPS. Research analysts predict that Avinger will post -4.69 EPS 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 stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in 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 approximately 2.57% of Avinger at the end of the most recent quarter. Hedge funds and other institutional investors own 18.30% of the company’s stock.

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.