Avinger (NASDAQ:AVGR) Upgraded at StockNews.com

StockNews.com upgraded shares of Avinger (NASDAQ:AVGR) from a sell rating to a hold rating in a research report released on Friday.

Separately, HC Wainwright upped their price objective on Avinger from $1.60 to $5.00 and gave the company a buy rating in a report on Monday, November 13th.

Avinger Stock Performance

Shares of Avinger stock opened at $3.09 on Friday. The firm has a fifty day moving average of $6.48 and a two-hundred day moving average of $8.32. The stock has a market capitalization of $4.23 million, a price-to-earnings ratio of -0.09 and a beta of 1.42. Avinger has a 52 week low of $3.03 and a 52 week high of $24.30.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Thursday, October 26th. The medical device company reported ($2.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.85) by ($0.07). The firm had revenue of $1.82 million for the quarter, compared to the consensus estimate of $2.40 million. Avinger had a negative return on equity of 6,767.92% and a negative net margin of 225.61%. As a group, research analysts forecast that Avinger will post -3.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Avinger

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC lifted its holdings in shares of Avinger by 7.8% during the 4th quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after acquiring an additional 52,000 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Avinger during the first quarter valued at about $64,000. Renaissance Technologies LLC purchased a new stake in Avinger during the second quarter valued at about $42,000. Finally, Prosperity Wealth Management Inc. bought a new stake in Avinger during the second quarter worth about $49,000. Institutional investors and hedge funds own 8.14% 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) in the United States and internationally. It 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.