Avinger, Inc. (NASDAQ:AVGR) Short Interest Up 39.5% in September

Avinger, Inc. (NASDAQ:AVGR) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 93,200 shares, an increase of 39.5% from the August 31st total of 66,800 shares. Based on an average daily trading volume, of 189,500 shares, the short-interest ratio is presently 0.5 days. Approximately 5.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Avinger in a research note on Monday. They set a “hold” rating for the company.

Avinger Price Performance

Shares of AVGR stock remained flat at $0.97 during mid-day trading on Friday. 56,483 shares of the stock were exchanged, compared to its average volume of 90,633. Avinger has a 12-month low of $0.90 and a 12-month high of $6.89. The firm’s 50 day moving average price is $1.21 and its 200 day moving average price is $2.24. The stock has a market cap of $1.65 million, a price-to-earnings ratio of -0.05 and a beta of 1.17.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings data on Thursday, August 8th. The medical device company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($2.39). The firm had revenue of $1.85 million for the quarter, compared to analysts’ expectations of $2.55 million. On average, 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 stake in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. 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.

Avinger Company Profile

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.