Initiates Coverage on Avinger (NASDAQ:AVGR) assumed coverage on shares of Avinger (NASDAQ:AVGRFree Report) in a report released on Wednesday morning. The brokerage issued a sell rating on the medical device company’s stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $1.60 price objective on shares of Avinger in a research note on Friday, July 28th.

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Avinger Trading Up 3.7 %

Shares of NASDAQ AVGR opened at $0.47 on Wednesday. Avinger has a twelve month low of $0.41 and a twelve month high of $1.62. The stock has a fifty day simple moving average of $0.68 and a 200-day simple moving average of $0.72. The stock has a market capitalization of $5.03 million, a PE ratio of -0.17 and a beta of 1.60.

Avinger (NASDAQ:AVGRGet Free Report) last issued its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.10). Avinger had a negative net margin of 208.86% and a negative return on equity of 6,767.92%. The firm had revenue of $2.04 million during the quarter, compared to analyst estimates of $2.30 million. On average, equities analysts predict that Avinger will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVGR. Renaissance Technologies LLC acquired a new position in Avinger during the 2nd quarter worth $42,000. Dimensional Fund Advisors LP acquired a new position in Avinger during the 1st quarter worth $64,000. Finally, Armistice Capital LLC grew its stake in Avinger by 7.8% during the 4th quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after purchasing an additional 52,000 shares in the last quarter. 8.14% of the stock is owned by institutional investors and hedge funds.

About Avinger

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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.

Further Reading

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