Avinger’s (NASDAQ:AVGR) Rating Upgraded to Maintain at Zacks Investment Research
Avinger (NASDAQ:AVGR – Get a Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released Friday, Zacks.com reports.
According to Zacks, “Avinger, Inc. is engaged in the design, manufacture and sale of catheter-based image-guided systems for treating peripheral arterial disease. The Company’s product includes Lightbox Imaging Console, Wildcat, Kittycat, Ocelot, Ocelot PIXL, Ocelot MVRX and Juicebox. Avinger, Inc. is based in Redwood City, California. “
A number of other stock analysts have also recently weighed in on the stock. StockNews.com upgraded Avinger’s shares from a “sell” rating to a “hold” rating in a research note on Friday. B. Riley lowered his price target on Avinger shares from $40.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, March 18.
Shares of AVGR traded at $0.03 during Friday’s midday session, hitting $2.61. The company’s shares had a trading volume of 66,561 shares, compared to an average volume of 166,637. The company has a fifty-day moving average of $5.24 and a 200-day moving average of $8.96 . The company has a market capitalization of $14.17 million, a price-earnings ratio of -0.56 and a beta of 1.63. Avinger has a 1-year low of $2.51 and a 1-year high of $29.20. The company has a quick ratio of 4.50, a current ratio of 5.48 and a leverage ratio of 1.26.
Avinger (NASDAQ:AVGR – Get Rating) last released its results on Tuesday, March 22. The medical device company reported ($1.26) earnings per share (EPS) for the quarter, meeting the Zacks consensus estimate of ($1.26). The company posted revenue of $2.40 million in the quarter, versus analyst estimates of $2.30 million. Avinger had a negative return on equity of 117.96% and a negative net margin of 171.88%. In the same quarter of the previous year, the company had earned earnings per share of ($1.40). On average, analysts predict Avinger will post -4.67 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of AVGR. GSA Capital Partners LLP acquired a new position in Avinger during the third quarter worth $215,000. Citadel Advisors LLC increased its position in Avinger by 797.2% during the third quarter. Citadel Advisors LLC now owns 302,494 shares of the medical device company worth $225,000 after buying an additional 268,778 shares in the last quarter. Morgan Stanley increased its position in Avinger by 52,153.2% during the third quarter. Morgan Stanley now owns 256,563 shares of the medical device company worth $191,000 after buying an additional 256,072 shares in the last quarter. Perkins Capital Management Inc. increased its position in Avinger by 8.3% during the fourth quarter. Perkins Capital Management Inc. now owns 2,554,750 shares of the medical device company worth $1,150,000 after buying an additional 195,000 shares in the last quarter. Finally, Virtu Financial LLC increased its position in Avinger by 242.9% during the fourth quarter. Virtu Financial LLC now owns 227,579 shares of the medical device company worth $102,000 after buying an additional 161,207 shares in the last quarter. 12.13% of the shares are currently held by hedge funds and other institutional investors.
Avinger Company Profile (Get a rating)
Avinger, Inc., a commercial-stage medical device company, designs, manufactures and sells a suite of image-guided, catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States. United and around the world. She is developing a 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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