Avinger (NASDAQ:AVGR) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Avinger (NASDAQ:AVGR) in a report published on Tuesday. The brokerage issued a hold rating on the medical device company’s stock.

Separately, HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of Avinger in a research report on Thursday, March 21st.

Avinger Trading Up 0.3 %

NASDAQ AVGR opened at $3.93 on Tuesday. Avinger has a twelve month low of $2.50 and a twelve month high of $18.00. The stock has a 50-day moving average of $3.39 and a 200 day moving average of $3.37. The stock has a market capitalization of $6.23 million, a price-to-earnings ratio of -0.15 and a beta of 1.26.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Wednesday, March 20th. The medical device company reported ($3.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($4.57). The firm had revenue of $1.91 million during the quarter, compared to analyst estimates of $2.52 million. Equities analysts predict that Avinger will post -2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Armistice Capital LLC raised its stake in shares of Avinger by 7.8% in the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock valued at $781,000 after acquiring an additional 52,000 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Avinger in the first quarter valued at $64,000. Finally, Renaissance Technologies LLC acquired a new stake in Avinger in the second quarter valued at $42,000. 18.30% of the stock is currently owned by institutional investors and hedge funds.

Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) primarily in the United States and Germany. The company develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures.