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

StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the medical device company’s stock.

Avinger Price Performance

NASDAQ:AVGR opened at $0.85 on Friday. The firm has a market capitalization of $1.96 million, a price-to-earnings ratio of -0.08 and a beta of 1.15. The business has a 50 day simple moving average of $0.95 and a 200-day simple moving average of $1.65. Avinger has a 1 year low of $0.76 and a 1 year high of $5.45.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, topping the consensus estimate 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. During the same period in the previous year, the firm earned ($2.92) earnings per share. As a group, 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 shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent disclosure with the Securities & 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 about 2.57% of Avinger as of its most recent filing with the Securities & Exchange Commission. 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.