Avinger, Inc. (NASDAQ:AVGR) Short Interest Update

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 122,400 shares, a decrease of 35.8% from the September 30th total of 190,700 shares. Based on an average daily trading volume, of 246,500 shares, the days-to-cover ratio is presently 0.5 days. Currently, 7.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Avinger in a report on Friday. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new position in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger at the end of the most recent quarter. Institutional investors own 18.30% of the company’s stock.

Avinger Price Performance

Shares of Avinger stock remained flat at $0.83 on Monday. 4,863 shares of the stock traded hands, compared to its average volume of 100,423. Avinger has a 1-year low of $0.76 and a 1-year high of $5.45. The firm has a 50-day moving average of $1.03 and a 200-day moving average of $1.91. The company has a market capitalization of $1.41 million, a PE ratio of -0.05 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, August 8th. The medical device company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The company had revenue of $1.85 million during the quarter, compared to the consensus estimate of $2.55 million. Equities research analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

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.