Avinger Inc (NASDAQ:AVGR) shares saw unusually-high trading volume on Wednesday . Approximately 2,837,989 shares changed 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.
AVGR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Avinger from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Tuesday, August 6th. Aegis initiated coverage on shares of Avinger in a research note on Thursday, September 12th. They issued a “buy” rating for the company. Finally, ValuEngine cut shares of Avinger from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.
The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 1.45. The company’s fifty day simple moving average is $1.42 and its two-hundred day simple moving average is $1.21. The stock has a market capitalization of $7.26 million, a PE ratio of -0.03 and a beta of 1.59.
Avinger (NASDAQ:AVGR) last posted its earnings results on Wednesday, July 31st. The medical device company reported ($0.87) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.90) by $0.03. Avinger had a negative net margin of 258.12% and a negative return on equity of 230.13%. The firm had revenue of $2.32 million during the quarter. Sell-side analysts forecast that Avinger Inc will post -2.61 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Avinger stock. Spark Investment Management LLC bought a new stake in shares of Avinger Inc (NASDAQ:AVGR) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 103,043 shares of the medical device company’s stock, valued at approximately $98,000. Spark Investment Management LLC owned approximately 0.21% of Avinger at the end of the most recent quarter. 7.51% of the stock is owned by institutional investors.
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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