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

Research analysts 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 Trading Down 24.6 %

NASDAQ AVGR opened at $0.97 on Friday. The firm’s fifty day simple moving average is $0.82 and its two-hundred day simple moving average is $1.15. The firm has a market capitalization of $3.19 million, a P/E ratio of -0.09 and a beta of 1.14. Avinger has a 12-month low of $0.39 and a 12-month high of $5.45.

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, topping 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 firm had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $1.60 million. During the same quarter last year, the firm earned ($2.92) EPS. As a group, sell-side analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Trading of Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger at the end of the most recent quarter. 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.