Avinger Inc. (NASDAQ:AVGR) dropped 3.5% during mid-day trading on Wednesday . The stock traded as low as $4.00 and last traded at $4.09, with a volume of 107,912 shares changing hands. The stock had previously closed at $4.24.

AVGR has been the topic of several analyst reports. Zacks Investment Research lowered shares of Avinger from a “hold” rating to a “sell” rating in a report on Monday, May 9th. Canaccord Genuity reissued a “buy” rating on shares of Avinger in a report on Tuesday, July 12th. Finally, BTIG Research reissued a “buy” rating and issued a $18.00 price target on shares of Avinger in a report on Friday, July 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.75.

The firm has a 50 day moving average of $4.84 and a 200-day moving average of $9.98. The stock’s market cap is $53.81 million.

Avinger (NASDAQ:AVGR) last released its earnings results on Monday, August 1st. The medical device company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.09. The firm earned $4.70 million during the quarter, compared to the consensus estimate of $3.05 million. On average, equities research analysts expect that Avinger Inc. will post ($4.16) earnings per share for the current year.

In other Avinger news, CEO Jeffrey M. Soinski purchased 57,100 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was acquired at an average price of $3.50 per share, with a total value of $199,850.00. Following the acquisition, the chief executive officer now directly owns 59,345 shares of the company’s stock, valued at approximately $207,707.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 on introducing products based on its lumivascular platform, which is an intravascular image-guided system.

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