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

Equities research analysts at StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued on Thursday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Stock Performance

Shares of Avinger stock opened at $0.63 on Thursday. The stock’s fifty day moving average is $0.83 and its 200 day moving average is $1.24. Avinger has a one year low of $0.39 and a one year high of $5.45. The stock has a market cap of $2.02 million, a P/E ratio of -0.06 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings data 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. The firm 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 period in the previous year, the firm earned ($2.92) EPS. Analysts predict that Avinger will post -4.69 EPS for the current year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new position in Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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. 18.30% of the stock is currently owned by 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.