Avinger (NASDAQ:AVGR) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a report released on Friday morning. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Trading Down 32.6 %

AVGR stock opened at $0.48 on Friday. The firm’s 50-day moving average is $0.79 and its two-hundred day moving average is $1.18. The company has a market capitalization of $1.60 million, a price-to-earnings ratio of -0.04 and a beta of 1.14. Avinger has a 52 week low of $0.39 and a 52 week high of $5.45.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.03) by $0.21. The company had revenue of $1.65 million for 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 last year, the firm earned ($2.92) EPS. On average, equities research analysts predict that Avinger will post -4.69 earnings per share for the current year.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger as of its most recent SEC filing. 18.30% of the stock is owned by 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.