Short Interest in Avinger, Inc. (NASDAQ:AVGR) Drops By 43.0%

Avinger, Inc. (NASDAQ:AVGRGet Rating) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 154,300 shares, a decrease of 43.0% from the April 30th total of 270,600 shares. Based on an average daily volume of 171,800 shares, the short-interest ratio is currently 0.9 days. Approximately 2.7% of the company’s stock are sold short.

Avinger stock opened at $2.04 on Friday. Avinger has a 52 week low of $1.56 and a 52 week high of $29.20. The company has a debt-to-equity ratio of 1.24, a quick ratio of 3.78 and a current ratio of 4.67. The stock has a market capitalization of $11.59 million, a P/E ratio of -0.36 and a beta of 1.69. The stock has a 50-day simple moving average of $2.75 and a 200 day simple moving average of $6.76.

Avinger (NASDAQ:AVGRGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The medical device company reported ($2.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.21) by ($1.12). Avinger had a negative return on equity of 143.44% and a negative net margin of 185.01%. During the same period in the prior year, the firm posted ($1.40) EPS. Research analysts forecast that Avinger will post -4.97 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new position in Avinger during the first quarter worth about $64,000. Virtu Financial LLC lifted its position in Avinger by 242.9% during the fourth quarter. Virtu Financial LLC now owns 227,579 shares of the medical device company’s stock worth $102,000 after acquiring an additional 161,207 shares during the last quarter. Perkins Capital Management Inc. lifted its position in Avinger by 8.3% during the fourth quarter. Perkins Capital Management Inc. now owns 2,554,750 shares of the medical device company’s stock worth $1,150,000 after acquiring an additional 195,000 shares during the last quarter. Millennium Management LLC acquired a new stake in Avinger during the third quarter worth approximately $69,000. Finally, Citadel Advisors LLC lifted its position in Avinger by 797.2% during the third quarter. Citadel Advisors LLC now owns 302,494 shares of the medical device company’s stock worth $225,000 after acquiring an additional 268,778 shares during the last quarter.

A number of research firms have issued reports on AVGR. B. Riley lowered their target price on Avinger from $11.00 to $9.00 in a report on Wednesday, May 11th. StockNews.com cut Avinger from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Finally, Zacks Investment Research upgraded Avinger from a “sell” rating to a “hold” rating in a report on Friday, April 22nd.

About Avinger (Get Rating)

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 arterial disease (PAD) in the United States and internationally. It 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.

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