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

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

Avinger Price Performance

Avinger stock opened at $0.63 on Thursday. Avinger has a one year low of $0.39 and a one year high of $5.45. The business’s fifty day moving average is $0.83 and its 200 day moving average is $1.24. The stock has a market capitalization of $2.02 million, a PE ratio of -0.06 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.60 million. During the same quarter last year, the firm posted ($2.92) EPS. As a group, sell-side analysts expect that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 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. 18.30% of the stock is owned by institutional investors and hedge funds.

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.