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

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

Avinger Stock Up 4.6 %

Shares of NASDAQ AVGR opened at $0.79 on Monday. The firm has a market cap of $2.52 million, a price-to-earnings ratio of -0.07 and a beta of 1.15. The company’s 50-day simple moving average is $0.92 and its 200-day simple moving average is $1.54. Avinger has a 52-week low of $0.70 and a 52-week high of $5.45.

Avinger (NASDAQ:AVGR) last released 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. The company had revenue of $1.65 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned ($2.92) EPS. Equities research analysts anticipate that Avinger will post -4.69 EPS for the current fiscal year.

Hedge Funds Weigh In On 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) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger at the end of the most recent quarter. 18.30% of the stock is currently owned by hedge funds and other 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.