Avinger, Inc. (NASDAQ:AVGR) Short Interest Down 39.5% in November

Avinger, Inc. (NASDAQ:AVGR) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 65,000 shares, a drop of 39.5% from the October 31st total of 107,400 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily volume of 227,300 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Avinger

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

Avinger Trading Up 0.9 %

Shares of Avinger stock traded up $0.01 during midday trading on Friday, hitting $0.84. The company had a trading volume of 14,313 shares, compared to its average volume of 94,880. Avinger has a 1-year low of $0.70 and a 1-year high of $5.45. The business’s 50 day simple moving average is $0.88 and its two-hundred day simple moving average is $1.43.

Avinger (NASDAQ:AVGR) last posted its quarterly 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 company had revenue of $1.65 million for the quarter, compared to analyst estimates of $1.60 million. Avinger had a negative net margin of 261.06% and a negative return on equity of 5,527.11%. During the same period last year, the business posted ($2.92) EPS. As a group, sell-side analysts expect that Avinger will post -4.69 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Avinger in a research report on Tuesday. They set a “hold” rating for the company.

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) 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.