Avinger Inc. (NASDAQ:AVGR) hit a new 52-week low on Friday . The company traded as low as $6.16 and last traded at $6.31, with a volume of 322,058 shares trading hands. The stock had previously closed at $6.49.

AVGR has been the topic of several research reports. Canaccord Genuity reiterated a “buy” rating on shares of Avinger in a research report on Tuesday. BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Avinger in a research report on Friday. Finally, Zacks Investment Research cut shares of Avinger from a “hold” rating to a “sell” rating in a research report on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $18.75.

The company’s market cap is $79.97 million. The firm has a 50-day moving average price of $11.09 and a 200 day moving average price of $13.00.

Avinger (NASDAQ:AVGR) last announced its earnings results on Wednesday, May 4th. The medical device company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.17) by $0.11. Equities analysts expect that Avinger Inc. will post ($4.23) earnings per share for the current fiscal year.

In other news, Director Donald A. Lucas sold 9,309 shares of the stock in a transaction on Friday, May 6th. The stock was sold at an average price of $12.58, for a total transaction of $117,107.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Himanshu Patel sold 10,000 shares of the stock in a transaction on Friday, May 6th. The stock was sold at an average price of $13.40, for a total value of $134,000.00. Following the sale, the insider now owns 87,220 shares in the company, valued at approximately $1,168,748. The disclosure for this sale can be found here.

Several hedge funds have made changes to their positions in the company. Thornburg Investment Management Inc. acquired a new stake in shares of Avinger during the fourth quarter valued at approximately $1,199,000. EAM Investors LLC boosted its stake in shares of Avinger by 0.4% in the fourth quarter. EAM Investors LLC now owns 116,261 shares of the medical device company’s stock valued at $2,640,000 after buying an additional 457 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its stake in shares of Avinger by 41.8% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 367,056 shares of the medical device company’s stock valued at $8,336,000 after buying an additional 108,222 shares during the last quarter.

Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses to introduce products based on its lumivascular platform, which is an intravascular image-guided system.

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