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

StockNews.com started coverage on shares of Avinger (NASDAQ:AVGR) in a research note released on Tuesday morning. The firm issued a hold rating on the medical device company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $5.00 price objective on shares of Avinger in a research report on Thursday, March 21st.

Avinger Stock Down 1.9 %

NASDAQ AVGR opened at $3.62 on Tuesday. The company has a market capitalization of $5.76 million, a price-to-earnings ratio of -0.14 and a beta of 1.26. Avinger has a twelve month low of $2.50 and a twelve month high of $18.00. The stock has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $3.37.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results 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 business had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.52 million. Research analysts expect that Avinger will post -2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVGR. Dimensional Fund Advisors LP purchased a new position in Avinger in the 1st quarter valued at approximately $64,000. Renaissance Technologies LLC bought a new stake in Avinger in the second quarter worth $42,000. Finally, Armistice Capital LLC lifted its stake in Avinger by 7.8% in the fourth 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 during the last quarter. 18.30% of the stock is currently owned by hedge funds and other institutional investors.

About Avinger

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.