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

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

Separately, HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of Avinger in a research report on Thursday, March 21st.

Avinger Stock Up 6.8 %

Shares of NASDAQ:AVGR opened at $3.92 on Tuesday. The business has a 50 day moving average price of $3.37 and a 200 day moving average price of $3.37. Avinger has a twelve month low of $2.50 and a twelve month high of $18.00. The company has a market cap of $6.23 million, a price-to-earnings ratio of -0.15 and a beta of 1.26.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings data on Wednesday, March 20th. The medical device company reported ($3.93) EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($4.57). The business had revenue of $1.91 million during the quarter, compared to the consensus estimate of $2.52 million. Analysts anticipate that Avinger will post -2.08 EPS for the current year.

Hedge Funds Weigh In On Avinger

A number of hedge funds have recently modified their holdings of the stock. Armistice Capital LLC raised its holdings in shares of Avinger by 7.8% in the 4th quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after buying an additional 52,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Avinger in the 2nd quarter worth approximately $42,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Avinger in the 1st quarter worth approximately $64,000. 18.30% of the stock is owned by institutional investors and hedge funds.

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) in the United States and internationally. It 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.