Avinger (NASDAQ:AVGR) Stock Price Up 11.9%

Avinger Inc (NASDAQ:AVGR) shares rose 11.9% during trading on Wednesday . The company traded as high as $1.54 and last traded at $1.50, approximately 230,700 shares changed hands during mid-day trading. A decline of 46% from the average daily volume of 426,026 shares. The stock had previously closed at $1.34.

AVGR has been the topic of a number of research analyst reports. Aegis initiated coverage on Avinger in a research note on Thursday, September 12th. They issued a “buy” rating on the stock. Zacks Investment Research cut Avinger from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, ValuEngine cut Avinger from a “buy” rating to a “hold” rating in a research note on Tuesday.

The firm has a market cap of $13.87 million, a P/E ratio of -0.04 and a beta of 1.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.37 and a quick ratio of 1.09. The stock has a 50 day moving average of $1.21 and a 200 day moving average of $1.35.

Avinger (NASDAQ:AVGR) last released its earnings results on Tuesday, November 5th. The medical device company reported ($0.70) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.10). Avinger had a negative net margin of 237.51% and a negative return on equity of 197.22%. The firm had revenue of $2.41 million during the quarter. On average, research analysts predict that Avinger Inc will post -2.14 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in AVGR. Virtu Financial LLC bought a new position in shares of Avinger during the third quarter valued at about $37,000. Wedbush Securities Inc. bought a new position in shares of Avinger during the third quarter valued at about $63,000. Finally, Perkins Capital Management Inc. grew its stake in shares of Avinger by 362.9% during the third quarter. Perkins Capital Management Inc. now owns 794,768 shares of the medical device company’s stock valued at $660,000 after buying an additional 623,093 shares during the last quarter. 13.14% of the stock is currently owned by hedge funds and other institutional investors.

Avinger Company Profile (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.

Further Reading: What is the float in trading stocks?

Receive News & Ratings for Avinger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avinger and related companies with MarketBeat.com's FREE daily email newsletter.