Zacks Investment Research Lowers Avinger (NASDAQ:AVGR) to Hold

Zacks Investment Research cut shares of Avinger (NASDAQ:AVGR) from a buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Avinger, Inc. is engaged in designing, manufacturing and selling image-guided, catheter-based systems to treat peripheral arterial disease. The company’s product consists of Lightbox imaging console, Wildcat, Kittycat, Ocelot, Ocelot PIXL, Ocelot MVRX and Juicebox. Avinger, Inc. is based in Redwood City, California. “

Separately, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

Avinger stock opened at $2.80 on Tuesday. The company’s 50-day moving average price is $1.38. The stock has a market cap of $18.36 million, a P/E ratio of -0.08 and a beta of 1.45. Avinger has a fifty-two week low of $1.80 and a fifty-two week high of $16.50.

Avinger (NASDAQ:AVGR) last issued its earnings results on Wednesday, May 8th. The medical device company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Avinger had a negative return on equity of 276.71% and a negative net margin of 291.57%. The company had revenue of $1.84 million during the quarter. As a group, research analysts predict that Avinger will post -4 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Avinger stock. Spark Investment Management LLC purchased a new position in shares of Avinger Inc (NASDAQ:AVGR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 103,043 shares of the medical device company’s stock, valued at approximately $98,000. Spark Investment Management LLC owned 0.21% of Avinger as of its most recent SEC filing. 5.56% of the stock is owned by hedge funds and other institutional investors.

Avinger Company Profile

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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