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

Avinger, Inc. (NASDAQ:AVGR) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 65,600 shares, an increase of 5.5% from the August 15th total of 62,200 shares. Based on an average daily volume of 90,900 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.7% of the shares of the stock are short sold.

Institutional Trading of Avinger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Armistice Capital LLC lifted its position in Avinger by 7.8% during the 4th quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock valued at $781,000 after purchasing an additional 52,000 shares during the period. Prosperity Wealth Management Inc. acquired a new position in Avinger in the second quarter valued at approximately $49,000. Renaissance Technologies LLC bought a new position in Avinger in the second quarter valued at approximately $42,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Avinger during the 1st quarter worth $64,000. 8.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AVGR shares. StockNews.com began coverage on shares of Avinger in a report on Friday. They set a “sell” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $24.00 target price on shares of Avinger in a research note on Friday, July 28th.

Avinger Price Performance

Shares of NASDAQ:AVGR traded up $3.66 during midday trading on Tuesday, reaching $9.73. The company’s stock had a trading volume of 26,990,683 shares, compared to its average volume of 387,096. Avinger has a fifty-two week low of $4.14 and a fifty-two week high of $24.30. The business’s fifty day simple moving average is $10.43 and its 200-day simple moving average is $10.27. The company has a market capitalization of $7.01 million, a P/E ratio of -0.24 and a beta of 1.62.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Thursday, July 27th. The medical device company reported ($8.85) EPS for the quarter, missing the consensus estimate of ($7.35) by ($1.50). Avinger had a negative net margin of 208.86% and a negative return on equity of 6,767.92%. The company had revenue of $2.04 million for the quarter, compared to the consensus estimate of $2.30 million. On average, analysts forecast that Avinger will post -19.79 earnings per share for the current fiscal year.

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) 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.