Avinger (NASDAQ:AVGR) Research Coverage Started at StockNews.com

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

Avinger Trading Up 4.9 %

Shares of NASDAQ AVGR opened at $1.00 on Monday. Avinger has a 12 month low of $0.90 and a 12 month high of $9.57. The stock has a 50 day moving average of $1.22 and a 200-day moving average of $2.25. The company has a market capitalization of $2.30 million, a P/E ratio of -0.05 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last issued its 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 during the quarter, compared to the consensus estimate of $2.55 million. Analysts predict that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter. 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.