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

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

Avinger Stock Down 2.0 %

NASDAQ:AVGR opened at $0.95 on Thursday. Avinger has a 52-week low of $0.83 and a 52-week high of $5.89. The firm has a market cap of $1.62 million, a P/E ratio of -0.05 and a beta of 1.17. The business’s 50-day moving average price is $1.06 and its 200 day moving average price is $2.02.

Avinger (NASDAQ:AVGR) last released its earnings results on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The company had revenue of $1.85 million for the quarter, compared to analyst estimates of $2.55 million. Sell-side analysts expect that Avinger will post -4.69 EPS for the current year.

Institutional Investors Weigh In On 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) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and 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. 18.30% of the stock is currently owned by hedge funds and other institutional investors.

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.