Avinger, Inc. (NASDAQ:AVGR – Get Free Report) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 122,400 shares, a drop of 35.8% from the September 30th total of 190,700 shares. Currently, 7.1% of the shares of the stock are short sold. Based on an average trading volume of 246,500 shares, the short-interest ratio is currently 0.5 days.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on shares of Avinger in a research note on Friday. They issued a “hold” rating on the stock.
Check Out Our Latest Research Report on Avinger
Avinger Stock Performance
Avinger (NASDAQ:AVGR – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The medical device company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The company had revenue of $1.85 million for the quarter, compared to the consensus estimate of $2.55 million. As a group, research analysts predict that Avinger will post -4.69 EPS for the current fiscal year.
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 – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 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. 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.
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