Short Interest in Avinger, Inc. (NASDAQ:AVGR) Decreases By 39.5%

Avinger, Inc. (NASDAQ:AVGR) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 65,000 shares, a decline of 39.5% from the October 31st total of 107,400 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average trading volume of 227,300 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger at the end of the most recent quarter. Hedge funds and other institutional investors own 18.30% of the company’s stock.

Avinger Price Performance

NASDAQ:AVGR remained flat at $0.83 during mid-day trading on Thursday. The company had a trading volume of 10,061 shares, compared to its average volume of 95,230. The stock’s fifty day moving average price is $0.88 and its 200-day moving average price is $1.44. The stock has a market cap of $2.66 million, a PE ratio of -0.08 and a beta of 1.15. Avinger has a 1-year low of $0.70 and a 1-year high of $5.45.

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Avinger in a report on Tuesday. They set a “hold” rating for the company.

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.