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

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 234,700 shares, a growth of 301.9% from the December 15th total of 58,400 shares. Approximately 8.5% of the company’s stock are short sold. Based on an average trading volume of 1,990,000 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Avinger in a report on Monday. They issued a “hold” rating for the company.

Avinger Stock Performance

Shares of Avinger stock traded down $0.01 on Wednesday, hitting $0.59. 306,916 shares of the company’s stock were exchanged, compared to its average volume of 1,572,661. The stock has a market capitalization of $1.94 million, a PE ratio of -0.05 and a beta of 1.15. Avinger has a 1 year low of $0.39 and a 1 year high of $5.45. The company has a 50-day simple moving average of $0.79 and a 200-day simple moving average of $1.05.

Avinger (NASDAQ:AVGR) last announced its quarterly earnings data on Thursday, November 7th. The medical device company reported ($1.82) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.65 million for the quarter, compared to the consensus estimate of $1.60 million. During the same period last year, the firm earned ($2.92) EPS. On average, analysts expect 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 position in shares of Avinger, Inc. (NASDAQ:AVGR) during the 2nd quarter, according to 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 18.30% of the company’s 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.