Avinger (AVGR) Stock Price Up 12.3%

Avinger Inc (NASDAQ:AVGR)’s share price rose 12.3% during mid-day trading on Thursday . The company traded as high as $0.73 and last traded at $0.73. Approximately 6,172,350 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 3,340,281 shares. The stock had previously closed at $0.65.

Separately, Zacks Investment Research raised Avinger from a “hold” rating to a “buy” rating and set a $0.25 price target for the company in a report on Tuesday, November 20th.

The firm has a market cap of $16.89 million, a price-to-earnings ratio of -0.22 and a beta of 2.04.

Avinger (NASDAQ:AVGR) last posted its quarterly earnings data on Wednesday, March 6th. The medical device company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.02). The firm had revenue of $2.03 million during the quarter. Avinger had a negative net margin of 358.74% and a negative return on equity of 353.82%. As a group, research analysts anticipate that Avinger Inc will post -0.55 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Avinger stock. CVI Holdings LLC acquired a new stake in Avinger Inc (NASDAQ:AVGR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 146,861 shares of the medical device company’s stock, valued at approximately $44,000. Avinger accounts for approximately 0.1% of CVI Holdings LLC’s portfolio, making the stock its 23rd biggest holding. CVI Holdings LLC owned about 0.63% of Avinger at the end of the most recent reporting period. Institutional investors and hedge funds own 12.63% of the company’s stock.

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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.

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