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

Research analysts at StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued to investors on Monday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Price Performance

NASDAQ AVGR opened at $0.96 on Monday. The company has a market capitalization of $1.63 million, a price-to-earnings ratio of -0.05 and a beta of 1.17. Avinger has a 12 month low of $0.90 and a 12 month high of $12.65. The company’s fifty day moving average price is $1.27 and its two-hundred day moving average price is $2.30.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Thursday, August 8th. The medical device company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The firm had revenue of $1.85 million for the quarter, compared to the consensus estimate of $2.55 million. As a group, analysts anticipate 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 purchased 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 Securities and Exchange Commission. The fund purchased 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 filing with the Securities and Exchange Commission. 18.30% of the stock is owned by institutional investors and hedge funds.

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.