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

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

Avinger Price Performance

AVGR opened at $0.79 on Monday. The stock’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.59. The stock has a market cap of $2.53 million, a P/E ratio of -0.07 and a beta of 1.15. Avinger has a 1-year low of $0.76 and a 1-year high of $5.45.

Avinger (NASDAQ:AVGR) last posted its earnings results 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. The company had revenue of $1.65 million for the quarter, compared to analyst estimates 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 company earned ($2.92) earnings per share. Research analysts expect that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.