Avinger, Inc. (NASDAQ:AVGR) Short Interest Down 7.4% in December

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 58,400 shares, a drop of 7.4% from the November 30th total of 63,100 shares. Based on an average trading volume of 1,850,000 shares, the short-interest ratio is presently 0.0 days. Approximately 2.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Avinger stock. Armistice Capital LLC bought a new position in shares of Avinger, Inc. (NASDAQ:AVGR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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 quarter. 18.30% of the stock is currently owned by institutional investors.

Avinger Price Performance

NASDAQ AVGR traded down $0.03 during trading hours on Tuesday, reaching $0.79. 673,409 shares of the stock traded hands, compared to its average volume of 578,797. The stock has a 50 day simple moving average of $0.82 and a two-hundred day simple moving average of $1.14. Avinger has a 1 year low of $0.39 and a 1 year high of $5.45. The company has a market cap of $2.61 million, a price-to-earnings ratio of -0.07 and a beta of 1.14.

Avinger (NASDAQ:AVGR) last issued its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $0.21. The business had revenue of $1.65 million during the quarter, compared to analyst estimates of $1.60 million. Avinger had a negative return on equity of 5,527.11% and a negative net margin of 261.06%. During the same quarter in the prior year, the firm earned ($2.92) earnings per share. On average, sell-side analysts forecast that Avinger will post -4.69 EPS for the current fiscal year.

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.