Avinger, Inc. (NASDAQ:AVGR) Short Interest Down 23.0% in July

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 35,100 shares, a drop of 23.0% from the June 30th total of 45,600 shares. Based on an average daily trading volume, of 18,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.5% of the company’s shares are sold short.

Avinger Stock Performance

Shares of AVGR stock traded down $0.19 during mid-day trading on Friday, reaching $1.42. 974,989 shares of the company’s stock traded hands, compared to its average volume of 14,238. The company’s 50-day moving average price is $1.95 and its 200-day moving average price is $2.85. Avinger has a 12 month low of $1.22 and a 12 month high of $14.00.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Wednesday, May 15th. The medical device company reported ($2.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($1.14). The company had revenue of $1.86 million for the quarter, compared to the consensus estimate of $2.36 million. On average, equities analysts expect that Avinger will post -2.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Avinger in a research report on Sunday, July 21st. They issued a “hold” rating on the 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.