Avinger (NASDAQ:AVGR) Research Coverage Started at StockNews.com

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

Avinger Trading Down 2.0 %

Shares of AVGR stock opened at $0.86 on Wednesday. The company has a market capitalization of $1.97 million, a price-to-earnings ratio of -0.07 and a beta of 1.17. The firm has a 50-day moving average price of $1.09 and a 200 day moving average price of $2.09. Avinger has a twelve month low of $0.83 and a twelve month high of $6.55.

Avinger (NASDAQ:AVGR) last posted 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 firm had revenue of $1.85 million for the quarter, compared to analyst estimates of $2.55 million. As a group, research analysts predict that Avinger will post -4.69 earnings per share for the current year.

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new stake in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent 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 2.57% of Avinger at the end of the most recent reporting period. 18.30% of the stock is currently owned by hedge funds and other institutional investors.

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.