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

StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Stock Performance

NASDAQ AVGR opened at $0.83 on Tuesday. The firm’s fifty day simple moving average is $0.88 and its two-hundred day simple moving average is $1.44. The firm has a market capitalization of $2.66 million, a P/E ratio of -0.08 and a beta of 1.15. Avinger has a 12-month low of $0.70 and a 12-month high of $5.45.

Avinger (NASDAQ:AVGR) last announced its 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 firm had revenue of $1.65 million for the quarter, compared to the consensus estimate of $1.60 million. During the same period in the previous year, the business earned ($2.92) EPS. As a group, sell-side analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avinger

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