Avinger (NASDAQ:AVGR) Coverage Initiated at StockNews.com

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

Avinger Price Performance

AVGR stock opened at $1.04 on Friday. Avinger has a 1 year low of $0.90 and a 1 year high of $14.00. The firm has a market capitalization of $1.77 million, a PE ratio of -0.06 and a beta of 1.17. The business has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $2.35.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Thursday, August 8th. The medical device company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The business had revenue of $1.85 million during the quarter, compared to the consensus estimate of $2.55 million. On average, equities research analysts expect that Avinger will post -4.69 EPS for the current year.

Institutional Investors Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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 currently owned by institutional investors and hedge funds.

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.