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

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

Avinger Trading Down 1.7 %

NASDAQ AVGR opened at $0.59 on Monday. The business’s 50 day moving average is $0.79 and its two-hundred day moving average is $1.05. The stock has a market capitalization of $1.95 million, a price-to-earnings ratio of -0.05 and a beta of 1.15. Avinger has a 12-month low of $0.39 and a 12-month 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 analyst estimates of $1.60 million. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. During the same quarter in the previous year, the company earned ($2.92) EPS. Equities analysts forecast that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new stake in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent disclosure 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 approximately 2.57% of Avinger as of its most recent filing with the Securities and Exchange Commission. 18.30% of the stock is owned by institutional investors.

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.