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

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

Avinger Trading Down 1.4 %

Shares of AVGR opened at $0.56 on Tuesday. The firm has a market capitalization of $1.86 million, a price-to-earnings ratio of -0.05 and a beta of 1.15. The firm’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $1.01. Avinger has a twelve month low of $0.39 and a twelve month high of $5.45.

Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.03) by $0.21. The firm had revenue of $1.65 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned ($2.92) EPS. On average, analysts predict 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 stake in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent filing with the SEC. The firm 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 reporting period. 18.30% of the stock is owned by hedge funds and other 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) 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.