Avinger Inc (NASDAQ:AVGR) Short Interest Down 12.1% in May

Avinger Inc (NASDAQ:AVGR) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,851,400 shares, a decrease of 12.1% from the April 30th total of 2,105,200 shares. Based on an average daily volume of 4,600,000 shares, the short-interest ratio is presently 0.4 days. Currently, 7.9% of the company’s stock are sold short.

AVGR has been the subject of a number of analyst reports. ValuEngine cut shares of Avinger from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Zacks Investment Research raised shares of Avinger from a “hold” rating to a “buy” rating and set a $0.75 target price for the company in a research report on Tuesday, March 12th.

NASDAQ:AVGR remained flat at $$0.46 during midday trading on Thursday. 1,515 shares of the company were exchanged, compared to its average volume of 1,031,662. Avinger has a 12 month low of $0.18 and a 12 month high of $2.03. The stock has a market capitalization of $29.40 million, a PE ratio of -0.14 and a beta of 1.87.

Avinger (NASDAQ:AVGR) last posted its earnings results on Wednesday, May 8th. The medical device company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). Avinger had a negative net margin of 291.57% and a negative return on equity of 276.71%. The firm had revenue of $1.84 million for the quarter. On average, analysts expect that Avinger will post -0.4 EPS for the current year.

A hedge fund recently bought a new stake in Avinger stock. CVI Holdings LLC bought a new stake in shares of Avinger Inc (NASDAQ:AVGR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 146,861 shares of the medical device company’s stock, valued at approximately $44,000. Avinger comprises approximately 0.1% of CVI Holdings LLC’s portfolio, making the stock its 23rd largest holding. CVI Holdings LLC owned 0.63% of Avinger as of its most recent filing with the Securities and Exchange Commission (SEC). 5.56% of the stock is owned by institutional investors.

About Avinger

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. 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.

See Also: Dividend Aristocrat Index

Receive News & Ratings for Avinger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avinger and related companies with MarketBeat.com's FREE daily email newsletter.