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

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 65,000 shares, a drop of 39.5% from the October 31st total of 107,400 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 227,300 shares, the short-interest ratio is currently 0.3 days.

Avinger Stock Performance

Shares of AVGR traded up $0.01 during mid-day trading on Friday, hitting $0.84. 14,313 shares of the company’s stock were exchanged, compared to its average volume of 94,880. Avinger has a twelve month low of $0.70 and a twelve month high of $5.45. The firm has a fifty day moving average of $0.88 and a two-hundred day moving average of $1.43.

Avinger (NASDAQ:AVGR) last posted its earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.03) by $0.21. The firm had revenue of $1.65 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted ($2.92) earnings per share. Equities analysts expect that Avinger will post -4.69 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC purchased a new stake in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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. Institutional investors and hedge funds 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.