Avinger (NASDAQ:AVGR) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a note issued to investors on Friday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Price Performance

Shares of NASDAQ:AVGR opened at $0.87 on Friday. Avinger has a 1-year low of $0.76 and a 1-year high of $5.45. The firm’s 50 day simple moving average is $1.04 and its two-hundred day simple moving average is $1.95. The company has a market capitalization of $1.47 million, a P/E ratio of -0.05 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last released its earnings results on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The firm had revenue of $1.85 million for the quarter, compared to analysts’ expectations of $2.55 million. On average, sell-side analysts anticipate that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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. Institutional investors and hedge funds own 18.30% of the company’s stock.

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.