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

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

Avinger Trading Down 2.0 %

Avinger stock opened at $0.95 on Thursday. Avinger has a 12 month low of $0.83 and a 12 month high of $5.89. The stock has a fifty day simple moving average of $1.06 and a two-hundred day simple moving average of $2.00. The firm has a market cap of $1.62 million, a price-to-earnings ratio of -0.05 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The company had revenue of $1.85 million during the quarter, compared to the consensus estimate of $2.55 million. On average, equities research analysts forecast that Avinger will post -4.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Avinger

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