Avinger (NASDAQ:AVGR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a research note released on Monday. The firm issued a hold rating on the medical device company’s stock.

Avinger Stock Down 1.7 %

Shares of AVGR stock opened at $0.59 on Monday. The stock has a market capitalization of $1.95 million, a PE ratio of -0.05 and a beta of 1.15. Avinger has a 52-week low of $0.39 and a 52-week high of $5.45. The stock’s 50-day moving average price is $0.79 and its 200 day moving average price is $1.05.

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

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 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. Hedge funds and other institutional investors 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.