Avinger (NASDAQ:AVGR) Earns Hold Rating from Analysts at StockNews.com

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

Avinger Trading Down 2.4 %

Avinger stock opened at $0.82 on Friday. The company has a fifty day simple moving average of $0.95 and a 200 day simple moving average of $1.65. Avinger has a 1-year low of $0.76 and a 1-year high of $5.45. The company has a market cap of $1.89 million, a P/E ratio of -0.07 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.03) by $0.21. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. The company had revenue of $1.65 million during the quarter, compared to the consensus estimate of $1.60 million. During the same quarter last year, the firm posted ($2.92) EPS. On average, equities research analysts forecast that Avinger will post -4.69 EPS for the current year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 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 filing with the SEC. 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.