Avinger (NASDAQ:AVGR) Shares Gap Up to $1.15

Avinger Inc (NASDAQ:AVGR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $1.17, but opened at $1.15. Avinger shares last traded at $1.08, with a volume of 29,235 shares changing hands.

A number of research analysts recently weighed in on the company. Zacks Investment Research upgraded Avinger from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a report on Tuesday, August 6th. ValuEngine cut Avinger from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Aegis assumed coverage on Avinger in a report on Thursday, September 12th. They issued a “buy” rating on the stock.

The firm has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $1.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 1.17. The company has a market capitalization of $6.88 million, a PE ratio of -0.03 and a beta of 1.58.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Wednesday, July 31st. The medical device company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.03. Avinger had a negative return on equity of 230.13% and a negative net margin of 258.12%. The company had revenue of $2.32 million for the quarter. Equities research analysts expect that Avinger Inc will post -2.61 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Avinger stock. Spark Investment Management LLC acquired a new stake in Avinger Inc (NASDAQ:AVGR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 103,043 shares of the medical device company’s stock, valued at approximately $98,000. Spark Investment Management LLC owned 0.21% of Avinger at the end of the most recent reporting period. 7.51% of the stock is owned by institutional investors and hedge funds.

About Avinger (NASDAQ:AVGR)

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. It 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.

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