Avinger (NASDAQ:AVGR) Coverage Initiated at Aegis

Equities research analysts at Aegis started coverage on shares of Avinger (NASDAQ:AVGR) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the medical device company’s stock.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Avinger from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Tuesday, August 6th. ValuEngine downgraded shares of Avinger from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.

NASDAQ:AVGR traded up $0.01 on Thursday, reaching $1.15. 49,758 shares of the company’s stock traded hands, compared to its average volume of 386,809. The company has a quick ratio of 1.17, a current ratio of 1.45 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $1.55 and a 200-day simple moving average of $1.19. The firm has a market cap of $7.20 million, a PE ratio of -0.03 and a beta of 1.58. Avinger has a 12 month low of $1.04 and a 12 month high of $15.90.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Wednesday, July 31st. The medical device company reported ($0.87) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.90) by $0.03. The business had revenue of $2.32 million for the quarter. Avinger had a negative return on equity of 230.13% and a negative net margin of 258.12%. On average, equities analysts anticipate that Avinger will post -2.61 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. CVI Holdings LLC purchased a new stake in Avinger during the fourth quarter worth about $44,000. Virtu Financial LLC raised its holdings in shares of Avinger by 1,918.5% during the fourth quarter. Virtu Financial LLC now owns 252,472 shares of the medical device company’s stock worth $75,000 after purchasing an additional 239,964 shares during the period. Spark Investment Management LLC acquired a new stake in shares of Avinger in the 1st quarter worth about $98,000. Goldman Sachs Group Inc. acquired a new stake in shares of Avinger in the 1st quarter worth about $125,000. Finally, Blair William & Co. IL increased its holdings in shares of Avinger by 5.0% in the 1st quarter. Blair William & Co. IL now owns 73,900 shares of the medical device company’s stock worth $188,000 after acquiring an additional 3,500 shares during the period. 7.51% of the stock is owned by institutional investors.

About Avinger

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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