StockNews.com Initiates Coverage on Avinger (NASDAQ:AVGR)

Research analysts at StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Trading Down 3.5 %

NASDAQ:AVGR opened at $0.80 on Tuesday. Avinger has a 1 year low of $0.70 and a 1 year high of $5.45. The stock has a 50-day moving average price of $0.90 and a two-hundred day moving average price of $1.48. The stock has a market cap of $2.56 million, a price-to-earnings ratio of -0.07 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last posted its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.21. The business had revenue of $1.65 million during 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 period in the prior year, the business earned ($2.92) EPS. Sell-side analysts forecast that Avinger will post -4.69 earnings per share for the current year.

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new stake in Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 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.