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

Avinger, Inc. (NASDAQ:AVGR) saw a large increase in short interest during 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. Approximately 8.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,990,000 shares, the short-interest ratio is presently 0.1 days.

Avinger Stock Down 4.6 %

Shares of AVGR traded down $0.03 during midday trading on Monday, hitting $0.54. The company had a trading volume of 187,308 shares, compared to its average volume of 422,672. Avinger has a 52 week low of $0.39 and a 52 week high of $5.45. The company’s 50 day moving average price is $0.80 and its 200 day moving average price is $1.07. The stock has a market cap of $1.78 million, a price-to-earnings ratio of -0.05 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last released 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. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. The business had revenue of $1.65 million for the quarter, compared to the consensus estimate of $1.60 million. During the same period in the previous year, the firm earned ($2.92) EPS. Equities analysts anticipate that Avinger will post -4.69 EPS for the current fiscal year.

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 Avinger, Inc. (NASDAQ:AVGR) in the 2nd quarter, according to the company in 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Avinger in a report on Monday. They set 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.