Avinger, Inc. (NASDAQ:AVGR) Sees Large Decrease in Short Interest

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a significant decrease in short interest during 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 daily volume of 236,400 shares, the short-interest ratio is currently 0.5 days. Currently, 4.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Avinger in a research note on Sunday, November 10th. They issued a “hold” rating on the stock.

Avinger Stock Down 2.5 %

Shares of AVGR stock traded down $0.02 on Friday, reaching $0.79. The company had a trading volume of 54,057 shares, compared to its average volume of 61,773. The business’s 50-day moving average is $0.94 and its 200 day moving average is $1.60. Avinger has a one year low of $0.76 and a one year high of $5.45.

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

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new position in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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. 18.30% of the stock is owned by hedge funds and other institutional investors.

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.