Shares of Avinger Inc. (NASDAQ:AVGR) dropped 3.9% during mid-day trading on Thursday . The company traded as low as $6.59 and last traded at $6.62, with a volume of 918,436 shares. The stock had previously closed at $6.89.

AVGR has been the subject of a number of recent research reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Avinger in a research note on Tuesday. Zacks Investment Research downgraded Avinger from a “hold” rating to a “sell” rating in a research note on Monday, May 9th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $18.00 target price on shares of Avinger in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Avinger has an average rating of “Hold” and an average price target of $18.75.

The firm’s market capitalization is $80.85 million. The firm has a 50-day moving average price of $10.95 and a 200-day moving average price of $12.87.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($1.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.17) by $0.11. On average, equities analysts predict that Avinger Inc. will post ($4.23) earnings per share for the current year.

In related news, insider Himanshu Patel sold 10,000 shares of Avinger stock in a transaction that occurred 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 directly owns 87,220 shares in the company, valued at $1,168,748. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Donald A. Lucas sold 9,309 shares of Avinger stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $12.58, for a total value of $117,107.22. The disclosure for this sale can be found here.

Other hedge funds have recently bought and sold shares of the company. Thornburg Investment Management Inc. purchased a new stake in Avinger during the fourth quarter worth approximately $1,199,000. EAM Investors LLC increased its stake in Avinger by 0.4% in the fourth quarter. EAM Investors LLC now owns 116,261 shares of the medical device company’s stock worth $2,640,000 after buying an additional 457 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in 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 worth $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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