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

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

Avinger Price Performance

Shares of NASDAQ:AVGR opened at $0.83 on Tuesday. The firm has a market capitalization of $2.65 million, a PE ratio of -0.08 and a beta of 1.15. The business has a 50 day simple moving average of $0.89 and a two-hundred day simple moving average of $1.46. Avinger has a 1 year low of $0.70 and a 1 year high of $5.45.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.03) by $0.21. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. The company had revenue of $1.65 million for the quarter, compared to the consensus estimate of $1.60 million. During the same quarter in the prior year, the company posted ($2.92) EPS. Equities research analysts expect that Avinger will post -4.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. 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.