Avinger (NASDAQ:AVGR) Earns Hold Rating from Analysts at StockNews.com

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

Avinger Stock Down 2.0 %

NASDAQ:AVGR opened at $0.81 on Friday. The company has a market cap of $2.69 million, a PE ratio of -0.07 and a beta of 1.15. The business’s 50 day moving average is $0.81 and its two-hundred day moving average is $1.13. Avinger has a 52 week low of $0.39 and a 52 week high of $5.45.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. During the same period last year, the business posted ($2.92) earnings per share. As a group, sell-side analysts expect that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new stake in Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.

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.