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

Equities research analysts at StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Avinger Stock Up 7.5 %

Shares of Avinger stock opened at $1.04 on Tuesday. The stock’s fifty day moving average is $1.16 and its two-hundred day moving average is $2.19. The company has a market capitalization of $1.77 million, a PE ratio of -0.06 and a beta of 1.17. Avinger has a 52 week low of $0.90 and a 52 week high of $6.55.

Avinger (NASDAQ:AVGR) last posted its quarterly 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. As a group, research analysts anticipate that Avinger will post -4.69 earnings per share for the current year.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 18.30% of the stock is currently owned by hedge funds and other institutional investors.

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.