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

StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Stock Up 24.0 %

Avinger stock opened at $1.29 on Tuesday. The firm has a market cap of $2.20 million, a price-to-earnings ratio of -0.07 and a beta of 1.17. Avinger has a 52 week low of $0.90 and a 52 week high of $6.55. The business’s 50-day moving average price is $1.15 and its 200 day moving average price is $2.18.

Avinger (NASDAQ:AVGR) last posted its earnings results on Thursday, August 8th. The medical device company reported ($2.82) 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 analysts’ expectations of $2.55 million. Equities analysts expect that Avinger will post -4.69 EPS for the current year.

Institutional Trading of Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new stake in Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger at the end of the most recent quarter. Institutional investors and hedge funds own 18.30% of the company’s stock.

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.