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

Equities researchers at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a report released on Saturday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Stock Performance

Avinger stock opened at $0.97 on Friday. The stock has a 50-day simple moving average of $0.82 and a 200 day simple moving average of $1.17. The stock has a market capitalization of $3.19 million, a P/E ratio of -0.09 and a beta of 1.14. Avinger has a 52 week low of $0.39 and a 52 week high of $5.45.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. During the same quarter in the prior year, the business earned ($2.92) EPS. Research analysts forecast that Avinger will post -4.69 earnings per share for the current year.

Institutional Investors Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger at the end of the most recent quarter. 18.30% of the stock is currently owned by institutional investors and hedge funds.

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.