Avinger (NASDAQ:AVGR) Stock Price Passes Above 50-Day Moving Average of $1.59

Avinger, Inc. (NASDAQ:AVGRGet Rating) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.59 and traded as high as $1.61. Avinger shares last traded at $1.56, with a volume of 158,052 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on AVGR. StockNews.com started coverage on shares of Avinger in a research note on Wednesday. They set a “sell” rating for the company. B. Riley decreased their target price on Avinger from $11.00 to $9.00 in a research report on Wednesday, May 11th.

Avinger Price Performance

The company has a debt-to-equity ratio of 1.24, a current ratio of 4.67 and a quick ratio of 3.78. The firm has a fifty day moving average of $1.59 and a two-hundred day moving average of $3.58. The stock has a market capitalization of $8.86 million, a P/E ratio of -0.28 and a beta of 1.68.

Avinger (NASDAQ:AVGRGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The medical device company reported ($2.33) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($1.12). The firm had revenue of $1.89 million during the quarter, compared to the consensus estimate of $1.89 million. Avinger had a negative net margin of 185.01% and a negative return on equity of 143.44%. During the same quarter in the previous year, the firm earned ($1.40) earnings per share. On average, analysts predict that Avinger, Inc. will post -4.97 EPS for the current year.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Dimensional Fund Advisors LP bought a new position in Avinger, Inc. (NASDAQ:AVGRGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,597 shares of the medical device company’s stock, valued at approximately $64,000. Dimensional Fund Advisors LP owned approximately 0.32% of Avinger as of its most recent filing with the Securities and Exchange Commission (SEC).

About Avinger

(Get Rating)

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 arterial 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.

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