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

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

Avinger Stock Performance

Shares of AVGR stock opened at $0.82 on Friday. Avinger has a 52-week low of $0.76 and a 52-week high of $5.45. The stock has a market cap of $1.89 million, a PE ratio of -0.07 and a beta of 1.15. The firm’s 50 day moving average price is $0.95 and its two-hundred day moving average price is $1.65.

Avinger (NASDAQ:AVGR) last posted its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.03) by $0.21. The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same period last year, the business posted ($2.92) earnings per share. As a group, sell-side analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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. 18.30% of the stock is currently owned by institutional investors and hedge funds.

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.