Short Interest in Avinger, Inc. (NASDAQ:AVGR) Decreases By 16.9%

Avinger, Inc. (NASDAQ:AVGR) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 41,800 shares, a drop of 16.9% from the March 31st total of 50,300 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 53,000 shares, the days-to-cover ratio is currently 0.8 days.

Avinger Stock Down 5.1 %

AVGR traded down $0.20 during trading on Monday, reaching $3.73. 6,000 shares of the company’s stock were exchanged, compared to its average volume of 45,338. The business has a 50 day moving average price of $3.47 and a 200 day moving average price of $3.32. Avinger has a fifty-two week low of $2.50 and a fifty-two week high of $18.00.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Wednesday, March 20th. The medical device company reported ($3.93) EPS for the quarter, missing the consensus estimate of $0.64 by ($4.57). The firm had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.52 million. On average, analysts anticipate that Avinger will post -2.08 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on AVGR. StockNews.com assumed coverage on Avinger in a report on Wednesday, April 24th. They set a “hold” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Avinger in a research note on Thursday, March 21st.

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.