Avinger (NASDAQ:AVGR) Sees Strong Trading Volume

Avinger Inc (NASDAQ:AVGR) saw strong trading volume on Tuesday . 707,371 shares were traded during mid-day trading, an increase of 73% from the previous session’s volume of 408,257 shares.The stock last traded at $2.76 and had previously closed at $2.72.

Several research analysts have recently weighed in on the stock. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th.

The company has a market cap of $17.46 million, a PE ratio of -0.08 and a beta of 1.46. The business’s 50 day simple moving average is $1.62.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Wednesday, May 8th. The medical device company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $1.84 million during the quarter. Analysts predict that Avinger Inc will post -4 EPS for the current year.

A hedge fund recently bought a new stake in Avinger stock. Spark Investment Management LLC acquired a new stake in shares of Avinger Inc (NASDAQ:AVGR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 5.56% 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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