Avinger Inc. (AVGR) Trading 3.9% Higher
Shares of Avinger Inc. (NASDAQ:AVGR) traded up 3.9% during mid-day trading on Monday . The stock traded as high as $4.27 and last traded at $4.26, with a volume of 106,544 shares. The stock had previously closed at $4.10.
Several analysts have issued reports on the company. BTIG Research restated a “buy” rating and set a $6.00 price objective (down previously from $18.00) on shares of Avinger in a report on Monday, August 15th. Zacks Investment Research raised Avinger from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Avinger in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.75.
The firm’s 50-day moving average is $5.30 and its 200-day moving average is $10.15. The firm’s market cap is $55.22 million.
Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Monday, August 1st. The medical device company reported ($1.06) earnings per share (EPS) 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. Equities analysts forecast that Avinger Inc. will post ($4.16) earnings per share for the current year.
In other news, CEO Jeffrey M. Soinski purchased 57,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average price of $3.50 per share, for a total transaction of $199,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 59,345 shares in the company, valued at $207,707.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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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