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

Research analysts at StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a report issued on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Avinger in a research note on Thursday, March 21st.

Avinger Stock Performance

Avinger stock opened at $3.68 on Tuesday. The business’s 50-day simple moving average is $3.30 and its 200-day simple moving average is $3.38. The firm has a market capitalization of $5.85 million, a PE ratio of -0.14 and a beta of 1.26. Avinger has a 52 week low of $2.50 and a 52 week high of $18.00.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings data on Wednesday, March 20th. The medical device company reported ($3.93) EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($4.57). The firm had revenue of $1.91 million during the quarter, compared to analyst estimates of $2.52 million. Research analysts forecast that Avinger will post -2.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Armistice Capital LLC boosted its holdings in shares of Avinger by 7.8% in the 4th quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after acquiring an additional 52,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Avinger in the 2nd quarter worth approximately $42,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Avinger in the 1st quarter worth approximately $64,000. 18.30% of the stock is owned by institutional investors and hedge funds.

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) in the United States and internationally. 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.