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

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

Avinger Price Performance

NASDAQ:AVGR traded up $0.03 during mid-day trading on Tuesday, hitting $0.85. The company’s stock had a trading volume of 16,649 shares, compared to its average volume of 100,367. The business’s fifty day moving average is $1.03 and its two-hundred day moving average is $1.91. The stock has a market cap of $1.45 million, a price-to-earnings ratio of -0.05 and a beta of 1.17. Avinger has a 1 year low of $0.76 and a 1 year high of $5.45.

Avinger (NASDAQ:AVGR) last issued 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 firm had revenue of $1.85 million during the quarter, compared to analysts’ expectations of $2.55 million. Analysts anticipate that Avinger will post -4.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Avinger in a report on Friday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger as of its most recent SEC filing. 18.30% of the stock is currently owned by 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.