Avinger (NASDAQ:AVGR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a report released on Sunday. The firm set a “hold” rating on the medical device company’s stock.

Avinger Trading Down 5.1 %

Shares of AVGR opened at $0.77 on Friday. The firm has a market cap of $2.55 million, a P/E ratio of -0.07 and a beta of 1.15. Avinger has a 12 month low of $0.39 and a 12 month high of $5.45. The stock’s 50 day moving average is $0.81 and its two-hundred day moving average is $1.11.

Avinger (NASDAQ:AVGR) last issued 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 company had revenue of $1.65 million during the quarter, compared to analyst estimates of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same quarter in the previous year, the firm earned ($2.92) EPS. Equities research analysts forecast that Avinger will post -4.69 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 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.