Avinger (NASDAQ:AVGR) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Stock Down 3.5 %

AVGR stock opened at $0.95 on Tuesday. The company’s 50-day moving average price is $1.19 and its two-hundred day moving average price is $2.22. The firm has a market cap of $1.62 million, a P/E ratio of -0.05 and a beta of 1.17. Avinger has a 12 month low of $0.90 and a 12 month high of $6.55.

Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, August 8th. The medical device company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The company had revenue of $1.85 million during the quarter, compared to analyst estimates of $2.55 million. Equities analysts predict that Avinger will post -4.69 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new position in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 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 and hedge funds.

Avinger Company Profile

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.