Avinger, Inc. (NASDAQ:AVGR) Downgraded by Zacks Investment Research to “Hold”
Avinger, Inc. (NASDAQ:AVGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Avinger, Inc. is engaged in designing, manufacturing and selling image-guided, catheter-based systems to treat peripheral arterial disease. The company’s product consists of Lightbox imaging console, Wildcat, Kittycat, Ocelot, Ocelot PIXL, Ocelot MVRX and Juicebox. Avinger, Inc. is based in Redwood City, California. “
Other analysts also recently issued research reports about the stock. Cowen and Company reiterated a “buy” rating on shares of Avinger in a report on Friday, April 14th. Canaccord Genuity lowered shares of Avinger from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. CIBC lowered shares of Avinger from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 12th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Avinger in a research report on Wednesday, April 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.13.
Shares of Avinger (NASDAQ:AVGR) traded up 3.2230% during mid-day trading on Monday, hitting $0.4676. 477,702 shares of the company traded hands. Avinger has a one year low of $0.35 and a one year high of $6.57. The firm has a 50-day moving average of $0.42 and a 200-day moving average of $1.77. The stock’s market capitalization is $11.18 million.
Institutional investors have recently bought and sold shares of the stock. Blair William & Co. IL raised its position in Avinger by 5.0% in the first quarter. Blair William & Co. IL now owns 73,900 shares of the medical device company’s stock valued at $188,000 after buying an additional 3,500 shares during the last quarter. Broadfin Capital LLC bought a new position in Avinger during the first quarter valued at $950,000. RMB Capital Management LLC bought a new position in Avinger during the fourth quarter valued at $1,123,000. Finally, FMR LLC bought a new position in Avinger during the fourth quarter valued at $5,772,000. Institutional investors own 61.08% of the company’s stock.
Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.
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