Avinger Inc Down 10.91% To $2.94 After Earnings

Avinger Inc (AVGR) said after close Wednesday that it lost $3.93 per share in quarter four 2023.

On the revenue line, the company reported $1.9 million, missing estimates by $614 thousand.

In the same quarter a year ago, the company lost $10.5 per share on revenue of $2 million.

The stock is down 10.91% to $2.94 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 35. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Avinger Inc is a United States-based medical device company. It is engaged in designing, manufacturing and selling image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease (PAD). The products offered by the firm include Lightbox imaging console, the Ocelot family of catheters, which are designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (CTO) and Pantheris, image-guided atherectomy device which is designed to allow physicians to precisely remove arterial plaque in PAD patients. It manufactures and sells products in the United States and internationally of which it generates the majority of the revenue from the sales made in the United States.