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

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

Avinger Price Performance

Shares of NASDAQ AVGR opened at $0.48 on Friday. Avinger has a 1-year low of $0.39 and a 1-year high of $5.45. The company has a market capitalization of $1.60 million, a price-to-earnings ratio of -0.04 and a beta of 1.14. The business has a 50-day moving average of $0.79 and a 200-day moving average of $1.19.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.21. The firm had revenue of $1.65 million during the quarter, compared to analysts’ expectations 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 prior year, the business earned ($2.92) EPS. Research analysts expect that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new stake in 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 purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 18.30% of the company’s stock.

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.