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

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

Avinger Price Performance

NASDAQ:AVGR opened at $0.72 on Friday. The firm has a market cap of $2.38 million, a PE ratio of -0.06 and a beta of 1.15. The firm has a 50 day simple moving average of $0.81 and a 200-day simple moving average of $1.10. Avinger has a 1-year low of $0.39 and a 1-year high of $5.45.

Avinger (NASDAQ:AVGR) last released its earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.03) by $0.21. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. The firm had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $1.60 million. During the same period in the previous year, the company earned ($2.92) EPS. As a group, sell-side analysts expect that Avinger will post -4.69 earnings per share 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) 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.30% of the company’s stock.

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.