Avinger, Inc. (NASDAQ:AVGR) Sees Large Increase in Short Interest

Avinger, Inc. (NASDAQ:AVGR) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 99,100 shares, a growth of 182.3% from the July 15th total of 35,100 shares. Based on an average daily volume of 39,100 shares, the days-to-cover ratio is presently 2.5 days. Currently, 7.4% of the shares of the stock are short sold.

Avinger Price Performance

AVGR traded down $0.05 during trading on Wednesday, reaching $1.04. The company had a trading volume of 3,927 shares, compared to its average volume of 40,339. The business’s fifty day moving average price is $1.66 and its 200 day moving average price is $2.71. The company has a market cap of $1.77 million, a P/E ratio of -0.06 and a beta of 1.26. Avinger has a 12 month low of $1.02 and a 12 month high of $14.00.

Avinger (NASDAQ:AVGR) last issued its quarterly earnings data on Wednesday, May 15th. The medical device company reported ($2.49) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($1.14). The business had revenue of $1.86 million for the quarter, compared to analyst estimates of $2.36 million. As a group, sell-side analysts predict that Avinger will post -2.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Avinger in a research note on Wednesday. They issued a “hold” rating on the stock.

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.