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

Equities research analysts at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued on Friday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Price Performance

Shares of AVGR opened at $0.48 on Friday. Avinger has a 1-year low of $0.39 and a 1-year high of $5.45. The stock has a market cap of $1.60 million, a price-to-earnings ratio of -0.04 and a beta of 1.14. The firm has a 50 day simple moving average of $0.79 and a 200-day simple moving average of $1.18.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.65 million during the quarter, compared to the consensus estimate of $1.60 million. During the same quarter last year, the business posted ($2.92) earnings per share. On average, equities analysts expect that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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 filing with the Securities & Exchange Commission. Institutional investors 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.