Avinger (NASDAQ:AVGR) Earns Hold Rating from Analysts at StockNews.com

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

Avinger Trading Down 3.5 %

Shares of AVGR opened at $0.80 on Tuesday. The stock has a market capitalization of $2.56 million, a price-to-earnings ratio of -0.07 and a beta of 1.15. Avinger has a 12 month low of $0.70 and a 12 month high of $5.45. The firm has a fifty day simple moving average of $0.90 and a 200 day simple moving average of $1.48.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new stake in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 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. 18.30% of the stock is owned by institutional investors.

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.