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

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

Avinger Trading Up 42.6 %

Avinger stock opened at $0.80 on Monday. The business’s 50 day simple moving average is $0.80 and its 200 day simple moving average is $1.07. Avinger has a 12 month low of $0.39 and a 12 month high of $5.45. The company has a market cap of $2.66 million, a price-to-earnings ratio of -0.07 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.03) by $0.21. The firm had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. During the same quarter in the prior year, the firm earned ($2.92) EPS. As a group, equities research analysts forecast that Avinger will post -4.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger at the end of the most recent quarter. 18.30% of the stock is owned by hedge funds and other institutional investors.

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.