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

Avinger, Inc. (NASDAQ:AVGR) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 190,700 shares, an increase of 104.6% from the September 15th total of 93,200 shares. Approximately 11.1% of the shares of the stock are sold short. Based on an average daily volume of 233,900 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On Avinger

A hedge fund recently bought a new stake in Avinger stock. Armistice Capital LLC acquired a new position in Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 43,747 shares of the medical device company’s stock, valued at approximately $81,000. Armistice Capital LLC owned about 2.57% of Avinger as of its most recent SEC filing. Hedge funds and other institutional investors own 18.30% of the company’s stock.

Analysts Set New Price Targets

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

Avinger Stock Down 2.0 %

Shares of AVGR opened at $0.86 on Friday. The stock has a market cap of $1.46 million, a PE ratio of -0.05 and a beta of 1.17. Avinger has a 12-month low of $0.83 and a 12-month high of $6.55. The business has a 50-day simple moving average of $1.09 and a two-hundred day simple moving average of $2.08.

Avinger (NASDAQ:AVGR) last released its quarterly earnings data on Thursday, August 8th. The medical device company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($2.39). The firm had revenue of $1.85 million during the quarter, compared to the consensus estimate of $2.55 million. On average, equities research analysts expect that Avinger will post -4.69 EPS for the current 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.