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

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

Avinger Stock Up 1.0 %

AVGR opened at $0.81 on Wednesday. The business has a 50 day moving average of $0.87 and a 200-day moving average of $1.33. Avinger has a 12-month low of $0.70 and a 12-month high of $5.45. The stock has a market cap of $2.59 million, a price-to-earnings ratio of -0.07 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.21. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. The company had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $1.60 million. During the same quarter in the previous year, the company posted ($2.92) earnings per share. As a group, analysts expect that Avinger will post -4.69 earnings per share for the current year.

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger as of its most recent filing with the Securities and Exchange Commission (SEC). 18.30% of the stock is currently owned by institutional investors and hedge funds.

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.