Short Interest in Avinger, Inc. (NASDAQ:AVGR) Declines By 7.4%

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

Analysts Set New Price Targets

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

Avinger Stock Performance

Shares of NASDAQ:AVGR traded down $0.02 during trading on Tuesday, reaching $0.80. 553,556 shares of the stock traded hands, compared to its average volume of 578,307. The stock has a market cap of $2.65 million, a P/E ratio of -0.07 and a beta of 1.14. Avinger has a 52-week low of $0.39 and a 52-week high of $5.45. The stock has a 50-day moving average of $0.82 and a two-hundred day moving average of $1.14.

Avinger (NASDAQ:AVGR) last announced its quarterly 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 firm had revenue of $1.65 million for the quarter, compared to the consensus estimate of $1.60 million. During the same period in the prior year, the company posted ($2.92) earnings per share. Sell-side analysts expect that Avinger will post -4.69 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

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.