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

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

Avinger Stock Performance

NASDAQ:AVGR opened at $1.04 on Friday. The company has a fifty day moving average of $1.31 and a two-hundred day moving average of $2.35. Avinger has a fifty-two week low of $0.90 and a fifty-two week high of $14.00. The stock has a market capitalization of $1.77 million, a PE ratio of -0.06 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, August 8th. The medical device company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The company had revenue of $1.85 million for the quarter, compared to analysts’ expectations of $2.55 million. Research analysts forecast that Avinger will post -4.69 earnings per share for the current year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new stake in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger as of its most recent filing with the Securities and Exchange Commission. 18.30% of the stock is currently owned by institutional investors.

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.