Avinger, Inc. (NASDAQ:AVGR) Short Interest Up 301.9% in December

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

Avinger Stock Performance

Shares of AVGR stock traded down $0.03 on Monday, hitting $0.54. The company’s stock had a trading volume of 187,308 shares, compared to its average volume of 422,672. Avinger has a fifty-two week low of $0.39 and a fifty-two week high of $5.45. The stock’s 50 day moving average is $0.80 and its 200-day moving average is $1.07. The company has a market capitalization of $1.78 million, a PE ratio of -0.05 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last posted its 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 firm had revenue of $1.65 million during the quarter, compared to analysts’ expectations 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 prior year, the business earned ($2.92) earnings per share. On average, research analysts forecast that Avinger will post -4.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new stake in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned approximately 2.57% of Avinger at the end of the most recent quarter. 18.30% of the stock is currently owned by institutional investors and hedge funds.

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.