Avinger, Inc. (NASDAQ:AVGR) Short Interest Update

Avinger, Inc. (NASDAQ:AVGR) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 89,600 shares, a growth of 281.3% from the February 29th total of 23,500 shares. Based on an average daily trading volume, of 52,500 shares, the days-to-cover ratio is currently 1.7 days. Approximately 5.6% of the company’s stock are short sold.

Institutional Trading of Avinger

Hedge funds have recently added to or reduced their stakes in the stock. Prosperity Wealth Management Inc. bought a new stake in Avinger in the second quarter worth about $49,000. Armistice Capital LLC raised its position in Avinger by 7.8% in the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after acquiring an additional 52,000 shares during the period. Dimensional Fund Advisors LP bought a new stake in Avinger in the first quarter worth about $64,000. Finally, Renaissance Technologies LLC bought a new stake in Avinger in the second quarter worth about $42,000. Institutional investors own 18.30% of the company’s stock.

Avinger Stock Performance

Avinger stock opened at $2.94 on Thursday. Avinger has a fifty-two week low of $2.50 and a fifty-two week high of $18.00. The stock has a market cap of $5.00 million, a PE ratio of -0.11 and a beta of 1.30. The firm’s 50-day simple moving average is $3.12 and its 200 day simple moving average is $4.23.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Avinger in a report on Saturday, March 23rd. They set a “hold” rating on the stock. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Avinger in a report on Thursday, March 21st.

Avinger Company Profile

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) in the United States and internationally. It 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.