Avinger Inc. (AVGR) Reaches New 1-Year Low at $4.22
Avinger Inc. (NASDAQ:AVGR) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $4.22 and last traded at $4.46, with a volume of 147,851 shares changing hands. The stock had previously closed at $4.37.
Several research analysts have commented on AVGR shares. Canaccord Genuity reissued a “buy” rating on shares of Avinger in a report on Tuesday, July 12th. Zacks Investment Research downgraded shares of Avinger from a “hold” rating to a “sell” rating in a report on Monday, May 9th. Finally, BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Avinger in a report on Friday, July 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.75.
The company’s market capitalization is $58.45 million. The stock has a 50 day moving average price of $8.47 and a 200-day moving average price of $11.42.
Avinger (NASDAQ:AVGR) last announced its earnings results on Monday, August 1st. The medical device company reported ($1.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.15) by $0.09. The business had revenue of $4.70 million for the quarter, compared to analysts’ expectations of $3.05 million. On average, analysts predict that Avinger Inc. will post ($4.34) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Avinger stock. Paradigm Capital Management Inc. NY raised its position in shares of Avinger Inc. (NASDAQ:AVGR) by 41.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 367,056 shares of the medical device company’s stock after buying an additional 108,222 shares during the period. Paradigm Capital Management Inc. NY owned approximately 2.91% of Avinger worth $8,336,000 as of its most recent SEC filing.
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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