Avinger, Inc. (NASDAQ:AVGR) Short Interest Up 301.9% in January

Avinger, Inc. (NASDAQ:AVGR) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 234,700 shares, an increase of 301.9% from the December 31st total of 58,400 shares. Based on an average trading volume of 1,990,000 shares, the short-interest ratio is currently 0.1 days. Approximately 8.5% of the company’s shares are short sold.

Avinger Price Performance

Shares of NASDAQ:AVGR traded up $0.06 on Thursday, reaching $0.60. The company’s stock had a trading volume of 1,210,309 shares, compared to its average volume of 891,401. The stock’s 50-day moving average is $0.74 and its two-hundred day moving average is $0.97. The stock has a market capitalization of $1.99 million, a P/E ratio of -0.05 and a beta of 1.15. Avinger has a 52-week low of $0.39 and a 52-week high of $5.45.

Avinger (NASDAQ:AVGR) last released its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.65 million for the quarter, compared to analyst estimates of $1.60 million. During the same quarter in the previous year, the company posted ($2.92) earnings per share. Equities analysts forecast that Avinger will post -4.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Avinger in a research report on Wednesday. They issued a “hold” rating on the stock.

About Avinger

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.