Avinger (NASDAQ:AVGR) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the medical device company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Avinger in a research note on Thursday, March 21st.

Avinger Stock Down 14.1 %

Shares of NASDAQ AVGR opened at $3.68 on Tuesday. The firm has a market cap of $5.85 million, a PE ratio of -0.14 and a beta of 1.26. Avinger has a 12-month low of $2.50 and a 12-month high of $18.00. The company’s fifty day simple moving average is $3.30 and its 200 day simple moving average is $3.38.

Avinger (NASDAQ:AVGR) last issued its earnings results on Wednesday, March 20th. The medical device company reported ($3.93) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($4.57). The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.52 million. On average, equities analysts predict that Avinger will post -2.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AVGR. Dimensional Fund Advisors LP bought a new position in shares of Avinger during the first quarter valued at about $64,000. Renaissance Technologies LLC bought a new position in shares of Avinger during the second quarter valued at about $42,000. Finally, Armistice Capital LLC lifted its position in shares of Avinger by 7.8% during the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock valued at $781,000 after purchasing an additional 52,000 shares in the last quarter. 18.30% of the stock is 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) in the United States and internationally. 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.