StockNews.com Begins Coverage on Avinger (NASDAQ:AVGR)

Analysts at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Price Performance

Shares of AVGR opened at $0.97 on Friday. The firm has a market capitalization of $3.19 million, a price-to-earnings ratio of -0.09 and a beta of 1.14. Avinger has a 1-year low of $0.39 and a 1-year high of $5.45. The company has a 50-day moving average of $0.82 and a 200 day moving average of $1.15.

Avinger (NASDAQ:AVGR) last issued its earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 261.06% and a negative return on equity of 5,527.11%. During the same period last year, the company posted ($2.92) earnings per share. On average, equities analysts anticipate 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 bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period. 18.30% of the stock is currently owned by hedge funds and other 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.