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

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

Avinger Stock Performance

AVGR stock opened at $0.63 on Thursday. The company has a market capitalization of $2.02 million, a PE ratio of -0.06 and a beta of 1.14. The company’s fifty day moving average price is $0.83 and its 200-day moving average price is $1.24. Avinger has a one year low of $0.39 and a one year high of $5.45.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.03) by $0.21. The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same quarter in the previous year, the company earned ($2.92) EPS. On average, research analysts predict 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 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 filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.