Avinger (AVGR) Shares Up -11.3%

Avinger Inc (NASDAQ:AVGR)’s share price shot up 11.3% during mid-day trading on Monday . The stock traded as high as $1.65 and last traded at $1.18. 730,453 shares traded hands during trading, a decline of 9% from the average session volume of 800,765 shares. The stock had previously closed at $1.33.

Several brokerages recently issued reports on AVGR. Zacks Investment Research lowered Avinger from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Ladenburg Thalmann Financial Services began coverage on Avinger in a research note on Friday, March 9th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $10.00.

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The company has a market cap of $1.17, a price-to-earnings ratio of -0.02 and a beta of 0.53.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Monday, March 19th. The medical device company reported ($9.97) earnings per share for the quarter. The firm had revenue of $1.91 million during the quarter. equities research analysts forecast that Avinger Inc will post -1.93 earnings per share for the current fiscal year.

In related news, insider Himanshu Patel acquired 50 shares of the stock in a transaction dated Friday, February 16th. The shares were bought at an average cost of $1,000.00 per share, for a total transaction of $50,000.00. Following the purchase, the insider now owns 2,484 shares in the company, valued at approximately $2,484,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

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Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. It 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.

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