Avinger Inc (NASDAQ:AVGR) saw unusually-strong trading volume on Wednesday . Approximately 2,837,989 shares traded hands during mid-day trading, an increase of 591% from the previous session’s volume of 410,516 shares.The stock last traded at $1.15 and had previously closed at $1.10.
A number of research analysts have weighed in on AVGR shares. Aegis started coverage on shares of Avinger in a research note on Thursday, September 12th. They issued a “buy” rating on the stock. ValuEngine cut shares of Avinger from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research upgraded shares of Avinger from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, August 6th.
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 stock has a market capitalization of $6.92 million, a PE ratio of -0.03 and a beta of 1.58. The stock’s 50 day simple moving average is $1.40 and its two-hundred day simple moving average is $1.21.
Avinger (NASDAQ:AVGR) last announced its quarterly earnings results on Wednesday, July 31st. The medical device company reported ($0.87) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.90) by $0.03. The company had revenue of $2.32 million for the quarter. Avinger had a negative net margin of 258.12% and a negative return on equity of 230.13%. As a group, equities research analysts predict that Avinger Inc will post -2.61 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Avinger stock. Spark Investment Management LLC bought a new position in shares of Avinger Inc (NASDAQ:AVGR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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 quarter. Hedge funds and other institutional investors own 7.51% of the company’s stock.
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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