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

Equities researchers at StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Stock Up 1.7 %

Shares of NASDAQ AVGR opened at $0.57 on Tuesday. The firm’s 50-day moving average price is $0.76 and its 200-day moving average price is $1.01. Avinger has a 52-week low of $0.39 and a 52-week high of $5.45. The company has a market cap of $1.89 million, a PE ratio of -0.05 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share 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 analyst estimates of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same period in the previous year, the business earned ($2.92) EPS. As a group, equities research analysts anticipate that Avinger will post -4.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger at the end of the most recent quarter. 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.