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

Equities researchers 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 Stock Performance

Avinger stock opened at $0.60 on Monday. Avinger has a 1 year low of $0.39 and a 1 year high of $5.45. The firm’s 50-day moving average is $0.80 and its 200-day moving average is $1.06. The company has a market cap of $1.99 million, a P/E ratio of -0.05 and a beta of 1.15.

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. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. During the same period in the prior year, the firm earned ($2.92) EPS. As a group, sell-side analysts predict that Avinger will post -4.69 earnings per share for the current year.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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 SEC filing. Institutional investors and hedge funds own 18.30% of the company’s stock.

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.