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

Stock analysts at StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Trading Up 1.7 %

AVGR opened at $0.57 on Tuesday. The company has a market cap of $1.89 million, a price-to-earnings ratio of -0.05 and a beta of 1.15. The stock has a fifty day simple moving average of $0.76 and a two-hundred day simple moving average of $1.01. Avinger has a 12-month low of $0.39 and a 12-month high of $5.45.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.03) by $0.21. The company had revenue of $1.65 million during the quarter, compared to analysts’ expectations 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) EPS. On average, analysts predict 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 purchased a new position in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period. 18.30% of the stock is owned by institutional investors.

About Avinger

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.