Avinger (NASDAQ:AVGR) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a research report released on Saturday. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Stock Down 14.9 %

Avinger stock opened at $0.82 on Friday. The company has a 50 day moving average of $0.82 and a 200-day moving average of $1.14. Avinger has a twelve month low of $0.39 and a twelve month high of $5.45. The stock has a market capitalization of $2.72 million, a PE ratio of -0.07 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.21. The firm had revenue of $1.65 million for the quarter, compared to the consensus estimate of $1.60 million. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. During the same quarter in the previous year, the business earned ($2.92) earnings per share. Equities 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 stake in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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. Hedge funds and other institutional investors 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.