Avinger Inc (NASDAQ:AVGR) was the target of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,851,400 shares, a decrease of 12.1% from the April 30th total of 2,105,200 shares. Currently, 7.9% of the shares of the stock are sold short. Based on an average daily volume of 4,600,000 shares, the days-to-cover ratio is currently 0.4 days.
A hedge fund recently bought a new stake in Avinger stock. Spark Investment Management LLC purchased a new stake in shares of Avinger Inc (NASDAQ:AVGR) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 103,043 shares of the medical device company’s stock, valued at approximately $98,000. Spark Investment Management LLC owned about 0.21% of Avinger at the end of the most recent quarter. 5.56% of the stock is currently owned by institutional investors and hedge funds.
AVGR has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Avinger from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research note on Tuesday, March 12th. ValuEngine raised shares of Avinger from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th.
Avinger (NASDAQ:AVGR) last issued its quarterly earnings data on Wednesday, May 8th. The medical device company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). The business had revenue of $1.84 million during the quarter. Avinger had a negative net margin of 291.57% and a negative return on equity of 276.71%. On average, sell-side analysts forecast that Avinger will post -0.4 earnings per share for the current fiscal year.
Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. It 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.
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