Avinger, Inc. (NASDAQ:AVGR) Sees Significant Decrease in Short Interest

Avinger, Inc. (NASDAQ:AVGR) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 166,300 shares, a decline of 29.1% from the December 31st total of 234,700 shares. Currently, 6.0% of the shares of the company are short sold. Based on an average daily trading volume, of 2,170,000 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

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

Avinger Price Performance

AVGR traded down $0.03 during trading on Friday, hitting $0.58. The stock had a trading volume of 306,657 shares, compared to its average volume of 786,917. The company has a 50 day moving average price of $0.73 and a 200-day moving average price of $0.95. Avinger has a one year low of $0.39 and a one year high of $5.45. The firm has a market cap of $1.90 million, a price-to-earnings ratio of -0.05 and a beta of 1.15.

Avinger (NASDAQ:AVGR) last announced its earnings results on Thursday, November 7th. The medical device company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.60 million. During the same quarter in the prior year, the business posted ($2.92) EPS. As a group, sell-side analysts predict that Avinger will post -4.69 EPS for the current fiscal 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.