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

StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a research report sent to investors on Monday morning. The firm issued a hold rating on the medical device company’s stock.

Avinger Stock Down 1.3 %

Avinger stock opened at $0.78 on Monday. Avinger has a 52-week low of $0.70 and a 52-week high of $5.45. The firm’s fifty day moving average is $0.94 and its 200 day moving average is $1.59. The company has a market cap of $2.49 million, a price-to-earnings ratio of -0.07 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.03) by $0.21. The firm had revenue of $1.65 million for 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 in the prior year, the company earned ($2.92) EPS. On average, equities research 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 acquired a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger as of its most recent SEC filing. Hedge funds and other institutional investors own 18.30% of the company’s stock.

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.