Avinger (NASDAQ:AVGR) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Avinger (NASDAQ:AVGR) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the medical device company’s stock.

Avinger Stock Down 3.0 %

NASDAQ AVGR opened at $0.97 on Monday. The stock has a market capitalization of $1.65 million, a P/E ratio of -0.05 and a beta of 1.17. Avinger has a 52-week low of $0.90 and a 52-week high of $7.90. The firm has a 50-day moving average price of $1.21 and a 200 day moving average price of $2.24.

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

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new stake in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger at the end of the most recent reporting period. 18.30% of the stock is currently owned by institutional investors and hedge funds.

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.