Avinger (NASDAQ:AVGR) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Stock Performance

Shares of AVGR opened at $0.78 on Monday. The company has a market capitalization of $2.49 million, a PE ratio of -0.07 and a beta of 1.15. The company’s 50 day moving average price is $0.92 and its 200 day moving average price is $1.55. Avinger has a 52 week low of $0.70 and a 52 week high of $5.45.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.03) by $0.21. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $1.60 million. During the same period in the previous year, the company posted ($2.92) EPS. On average, equities analysts forecast that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new stake in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 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 SEC. Hedge funds and other institutional investors own 18.30% of the company’s stock.

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.