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

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

Avinger Stock Performance

Avinger stock opened at $0.97 on Thursday. Avinger has a fifty-two week low of $0.83 and a fifty-two week high of $5.89. The firm’s 50-day simple moving average is $1.06 and its 200 day simple moving average is $2.03. The stock has a market cap of $1.65 million, a PE ratio of -0.05 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last released its earnings results on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The firm had revenue of $1.85 million during the quarter, compared to the consensus estimate of $2.55 million. As a group, analysts predict that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger at the end of the most recent reporting period. Institutional investors and hedge funds 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.