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

Avinger, Inc. (NASDAQ:AVGR) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 58,400 shares, a decline of 7.4% from the November 30th total of 63,100 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is presently 0.0 days.

Avinger Trading Down 3.8 %

NASDAQ:AVGR traded down $0.03 during mid-day trading on Tuesday, reaching $0.79. The company’s stock had a trading volume of 673,409 shares, compared to its average volume of 578,797. The firm’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $1.14. The stock has a market cap of $2.61 million, a P/E ratio of -0.07 and a beta of 1.14. Avinger has a 12-month low of $0.39 and a 12-month high of $5.45.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings data 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. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. The company had revenue of $1.65 million for the quarter, compared to the consensus estimate of $1.60 million. During the same quarter in the prior year, the firm earned ($2.92) earnings per share. Analysts predict that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Trading of Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned 2.57% of Avinger at the end of the most recent reporting period. Institutional investors and hedge funds own 18.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Avinger in a research note on Saturday. They issued a “hold” rating on the 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.