Avinger, Inc. (NASDAQ:AVGR) Short Interest Down 39.5% in November

Avinger, Inc. (NASDAQ:AVGR) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 65,000 shares, a decline of 39.5% from the October 31st total of 107,400 shares. Based on an average trading volume of 227,300 shares, the short-interest ratio is presently 0.3 days. Approximately 2.4% of the shares of the stock are sold short.

Avinger Price Performance

AVGR remained flat at $0.83 during trading on Thursday. 10,061 shares of the company’s stock were exchanged, compared to its average volume of 95,230. Avinger has a 52-week low of $0.70 and a 52-week high of $5.45. The stock has a 50 day moving average price of $0.88 and a two-hundred day moving average price of $1.44. The stock has a market capitalization of $2.66 million, a PE ratio of -0.08 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, topping analysts’ consensus estimates of ($2.03) by $0.21. The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same quarter in the previous year, the business earned ($2.92) earnings per share. As a group, equities research analysts anticipate that Avinger will post -4.69 earnings per share for the current year.

Institutional Investors Weigh In On Avinger

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) during the second quarter, according to 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. 18.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.