Avinger (AVGR) Stock Price Down 10.3%

Shares of Avinger Inc (NASDAQ:AVGR) fell 10.3% on Monday . The company traded as low as $0.47 and last traded at $0.52. 4,916,195 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 4,696,506 shares. The stock had previously closed at $0.58.

A number of research firms have recently weighed in on AVGR. Zacks Investment Research downgraded shares of Avinger from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine upgraded shares of Avinger from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th.

The firm has a market cap of $28.88 million, a P/E ratio of -0.16 and a beta of 1.93.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Wednesday, May 8th. The medical device company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $1.84 million for the quarter. Avinger had a negative net margin of 291.57% and a negative return on equity of 276.71%. As a group, equities research analysts forecast that Avinger Inc will post -0.42 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC bought a new position in Avinger during the 1st quarter valued at about $26,000. Northern Trust Corp bought a new position in Avinger during the 1st quarter valued at about $38,000. Spark Investment Management LLC bought a new position in Avinger during the 1st quarter valued at about $98,000. CVI Holdings LLC bought a new position in Avinger during the 4th quarter valued at about $44,000. Finally, Virtu Financial LLC grew its holdings in Avinger by 1,918.5% during the 4th quarter. Virtu Financial LLC now owns 252,472 shares of the medical device company’s stock valued at $75,000 after purchasing an additional 239,964 shares during the last quarter. Institutional investors own 5.48% of the company’s stock.

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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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