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

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

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Avinger in a research report on Thursday, March 21st.

Avinger Stock Performance

Shares of AVGR stock opened at $3.70 on Tuesday. The firm has a market cap of $5.88 million, a P/E ratio of -0.14 and a beta of 1.26. Avinger has a fifty-two week low of $2.50 and a fifty-two week high of $18.00. The business’s 50 day moving average price is $3.35 and its 200-day moving average price is $3.37.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings data on Wednesday, March 20th. The medical device company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($4.57). The firm had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.52 million. As a group, equities analysts predict that Avinger will post -2.08 EPS for the current year.

Institutional Investors Weigh In On Avinger

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Avinger during the second quarter valued at approximately $42,000. Dimensional Fund Advisors LP bought a new stake in shares of Avinger during the first quarter valued at approximately $64,000. Finally, Armistice Capital LLC boosted its position in shares of Avinger by 7.8% during the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock valued at $781,000 after purchasing an additional 52,000 shares in the last quarter. 18.30% of the stock is currently 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) in the United States and internationally. It 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.