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

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

Avinger Price Performance

NASDAQ:AVGR opened at $0.79 on Monday. The firm has a market cap of $2.53 million, a price-to-earnings ratio of -0.07 and a beta of 1.15. The firm’s fifty day moving average price is $0.94 and its 200 day moving average price is $1.59. Avinger has a 1-year low of $0.76 and a 1-year high of $5.45.

Avinger (NASDAQ:AVGR) last issued its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.03) by $0.21. The business had revenue of $1.65 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($2.92) earnings per share. As a group, analysts expect that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 and Exchange Commission (SEC). Institutional investors and hedge funds 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.