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

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

Avinger Price Performance

Shares of NASDAQ AVGR opened at $0.79 on Monday. Avinger has a 1-year low of $0.70 and a 1-year high of $5.45. The business has a fifty day moving average price of $0.92 and a 200 day moving average price of $1.54. The stock has a market capitalization of $2.52 million, a P/E ratio of -0.07 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.65 million during the quarter, compared to analyst estimates of $1.60 million. During the same period in the prior year, the firm posted ($2.92) earnings per share. As a group, equities research analysts anticipate that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Trading of Avinger

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 its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 SEC filing. Institutional investors 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.