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

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

Avinger Price Performance

AVGR stock opened at $0.72 on Friday. The company has a 50 day moving average price of $0.81 and a 200 day moving average price of $1.20. Avinger has a fifty-two week low of $0.39 and a fifty-two week high of $5.45. The stock has a market capitalization of $2.37 million, a PE ratio of -0.06 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.03) by $0.21. The business 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 last year, the business earned ($2.92) earnings per share. As a group, equities analysts expect that Avinger will post -4.69 earnings per share 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) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 (SEC). 18.30% of the stock is currently owned by hedge funds and other institutional investors.

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.