Avinger, Inc. (NASDAQ:AVGR) Short Interest Down 12.3% in October

Avinger, Inc. (NASDAQ:AVGR) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 107,400 shares, a decrease of 12.3% from the October 15th total of 122,400 shares. Based on an average trading volume of 236,400 shares, the short-interest ratio is currently 0.5 days. Currently, 4.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Avinger in a research report on Sunday, November 10th. They set a “hold” rating for the company.

Avinger Trading Down 2.5 %

AVGR stock traded down $0.02 during mid-day trading on Friday, hitting $0.79. 54,057 shares of the company were exchanged, compared to its average volume of 61,773. Avinger has a 1-year low of $0.76 and a 1-year high of $5.45. The business has a 50 day simple moving average of $0.94 and a 200-day simple moving average of $1.60.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.03) by $0.21. The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $1.60 million. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. During the same period last year, the firm posted ($2.92) EPS. As a group, analysts predict that Avinger will post -4.69 earnings per share for the current year.

Hedge Funds Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new stake in Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger as of its most recent SEC filing. Institutional investors own 18.30% of the company’s stock.

Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) primarily in the United States and Germany. The company 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.