Avinger (NASDAQ:AVGR) Coverage Initiated at StockNews.com

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

Avinger Price Performance

AVGR opened at $0.84 on Friday. Avinger has a fifty-two week low of $0.76 and a fifty-two week high of $5.45. The firm has a market capitalization of $1.93 million, a price-to-earnings ratio of -0.07 and a beta of 1.15. The company’s 50 day moving average price is $0.98 and its two-hundred day moving average price is $1.75.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings data on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The firm had revenue of $1.85 million for the quarter, compared to the consensus estimate of $2.55 million. As a group, equities research analysts predict that Avinger will post -4.69 EPS for the current year.

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger as of its most recent filing with the Securities and Exchange Commission. 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.