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

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

Separately, HC Wainwright reaffirmed a buy rating and issued a $5.00 price objective on shares of Avinger in a report on Thursday, March 21st.

Avinger Trading Up 0.3 %

AVGR stock opened at $3.93 on Tuesday. The firm has a market capitalization of $6.23 million, a PE ratio of -0.15 and a beta of 1.26. Avinger has a 1-year low of $2.50 and a 1-year high of $18.00. The business’s 50 day simple moving average is $3.39 and its 200 day simple moving average is $3.37.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings data on Wednesday, March 20th. The medical device company reported ($3.93) EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($4.57). The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.52 million. As a group, sell-side analysts predict that Avinger will post -2.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Avinger

Several large investors have recently bought and sold shares of the company. Armistice Capital LLC raised its position in shares of Avinger by 7.8% during the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after acquiring an additional 52,000 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Avinger during the second quarter worth approximately $42,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Avinger during the first quarter worth approximately $64,000. 18.30% of the stock is currently owned by institutional investors.

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.