Avinger (NASDAQ:AVGR) Now Covered by StockNews.com

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

Avinger Stock Performance

Shares of AVGR stock opened at $1.01 on Friday. Avinger has a one year low of $0.90 and a one year high of $14.00. The company’s 50-day simple moving average is $1.30 and its 200-day simple moving average is $2.34. The stock has a market capitalization of $1.72 million, a price-to-earnings ratio of -0.06 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The firm had revenue of $1.85 million for the quarter, compared to analyst estimates of $2.55 million. As a group, research analysts forecast that Avinger will post -4.69 EPS for the current year.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new position in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger as of its most recent SEC filing. 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.