Avinger (NASDAQ:AVGR) Coverage Initiated by Analysts at StockNews.com

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

Avinger Stock Performance

Shares of Avinger stock opened at $0.48 on Friday. Avinger has a 1 year low of $0.39 and a 1 year high of $5.45. The firm’s 50-day simple moving average is $0.79 and its 200-day simple moving average is $1.19. The firm has a market cap of $1.60 million, a PE ratio of -0.04 and a beta of 1.14.

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, beating 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. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. During the same quarter in the prior year, the firm posted ($2.92) earnings per share. On average, equities analysts predict that Avinger will post -4.69 earnings per share for the current year.

Institutional Trading of 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) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 SEC filing. 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.