Avinger (NASDAQ:AVGR) Share Price Passes Below 50-Day Moving Average of $1.65

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Avinger, Inc. (NASDAQ:AVGR)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.65 and traded as low as $1.45. Avinger shares last traded at $1.46, with a volume of 2,531,139 shares.

Separately, Aegis reaffirmed a “buy” rating on shares of Avinger in a research note on Monday, February 15th.

The company has a market cap of $140.09 million, a PE ratio of -1.09 and a beta of 2.03. The business’s 50-day simple moving average is $1.65 and its 200-day simple moving average is $0.92. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.06.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, March 11th. The medical device company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Avinger had a negative net margin of 226.95% and a negative return on equity of 234.16%. On average, research analysts predict that Avinger, Inc. will post -0.79 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Avinger stock. GSA Capital Partners LLP purchased a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 460,533 shares of the medical device company’s stock, valued at approximately $203,000. GSA Capital Partners LLP owned approximately 0.54% of Avinger at the end of the most recent quarter. Hedge funds and other institutional investors own 5.34% of the company’s stock.

About Avinger (NASDAQ:AVGR)

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. 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.

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