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

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 234,700 shares, a growth of 301.9% from the December 15th total of 58,400 shares. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is currently 0.1 days. Currently, 8.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Avinger in a report on Monday. They issued a “hold” rating on the stock.

Avinger Stock Performance

NASDAQ:AVGR opened at $0.80 on Tuesday. The stock has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $1.06. Avinger has a 52-week low of $0.39 and a 52-week high of $5.45. The firm has a market capitalization of $2.66 million, a PE ratio of -0.07 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last released its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.60 million. During the same period in the prior year, the firm posted ($2.92) EPS. Equities analysts forecast that Avinger will post -4.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC bought a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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 quarter. 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.