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

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

Avinger Trading Down 5.1 %

Shares of NASDAQ:AVGR opened at $0.77 on Friday. Avinger has a twelve month low of $0.39 and a twelve month high of $5.45. The company’s 50 day moving average is $0.81 and its 200 day moving average is $1.11. The company has a market cap of $2.55 million, a PE ratio of -0.07 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping 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 analyst estimates of $1.60 million. During the same quarter in the prior year, the business earned ($2.92) earnings per share. Equities research analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. 18.30% of the stock is owned by institutional investors and hedge funds.

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.