Avinger (NASDAQ:AVGR) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Avinger (NASDAQ:AVGR) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Avinger, Inc. is engaged in designing, manufacturing and selling image-guided, catheter-based systems to treat peripheral arterial disease. The company’s product consists of Lightbox imaging console, Wildcat, Kittycat, Ocelot, Ocelot PIXL, Ocelot MVRX and Juicebox. Avinger, Inc. is based in Redwood City, California. “

Separately, ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

AVGR stock opened at $2.82 on Tuesday. Avinger has a 1 year low of $1.80 and a 1 year high of $16.50. The company has a 50 day moving average of $1.43.

Avinger (NASDAQ:AVGR) last posted its earnings results on Wednesday, May 8th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Avinger had a negative net margin of 291.57% and a negative return on equity of 276.71%. The company had revenue of $1.84 million during the quarter. As a group, equities analysts forecast that Avinger will post -4 earnings per share for the current year.

An institutional investor recently bought a new position in Avinger stock. CVI Holdings LLC purchased a new position in shares of Avinger Inc (NASDAQ:AVGR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 146,861 shares of the medical device company’s stock, valued at approximately $44,000. Avinger accounts for approximately 0.1% of CVI Holdings LLC’s investment portfolio, making the stock its 23rd biggest holding. CVI Holdings LLC owned approximately 0.63% of Avinger at the end of the most recent quarter. 5.56% of the stock is owned by institutional investors.

Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. It 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.

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