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

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

Avinger Trading Down 24.8 %

AVGR opened at $0.62 on Thursday. Avinger has a 1 year low of $0.39 and a 1 year high of $5.45. The stock has a fifty day moving average price of $0.84 and a 200 day moving average price of $1.26. The stock has a market cap of $1.97 million, a price-to-earnings ratio of -0.06 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.65 million during the quarter, compared to analyst estimates of $1.60 million. During the same period in the previous year, the company earned ($2.92) EPS. As a group, sell-side analysts forecast that Avinger will post -4.69 earnings per share 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) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & 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 at the end of the most recent reporting period. 18.30% of the stock is currently owned by institutional investors and hedge funds.

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.