Avinger (NASDAQ:AVGR) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a report published on Sunday. The firm issued a hold rating on the medical device company’s stock.

Avinger Price Performance

Avinger stock opened at $0.81 on Friday. The stock has a market capitalization of $2.69 million, a PE ratio of -0.07 and a beta of 1.15. Avinger has a 12 month low of $0.39 and a 12 month high of $5.45. The business has a 50 day simple moving average of $0.81 and a 200-day simple moving average of $1.12.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating 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 previous year, the business earned ($2.92) earnings per share. On average, equities research analysts anticipate that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 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 filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.