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

StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a research note released on Tuesday. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Price Performance

Shares of NASDAQ AVGR opened at $1.01 on Tuesday. The firm has a market cap of $1.72 million, a price-to-earnings ratio of -0.06 and a beta of 1.17. The stock’s fifty day moving average price is $1.13 and its two-hundred day moving average price is $2.16. Avinger has a one year low of $0.90 and a one year high of $6.55.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The company had revenue of $1.85 million for the quarter, compared to analyst estimates of $2.55 million. 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

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent Form 13F filing 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 approximately 2.57% of Avinger as of its most recent filing with the SEC. Institutional investors and hedge funds own 18.30% 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) 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.