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

Avinger, Inc. (NASDAQ:AVGRGet Rating) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 205,800 shares, a decrease of 71.4% from the March 15th total of 718,600 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average daily volume of 167,900 shares, the days-to-cover ratio is currently 1.2 days.

AVGR has been the subject of a number of research analyst reports. StockNews.com raised Avinger from a “sell” rating to a “hold” rating in a research report on Wednesday. B. Riley reduced their price objective on Avinger from $40.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, March 18th. Finally, Zacks Investment Research raised Avinger from a “sell” rating to a “hold” rating in a research note on Thursday, March 31st.

Several hedge funds have recently modified their holdings of AVGR. Commonwealth Equity Services LLC raised its stake in shares of Avinger by 20.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 87,272 shares of the medical device company’s stock worth $64,000 after buying an additional 15,000 shares in the last quarter. HighMark Wealth Management LLC increased its stake in Avinger by 122.0% in the 3rd quarter. HighMark Wealth Management LLC now owns 37,300 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 20,500 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Avinger in the 3rd quarter valued at approximately $215,000. Morgan Stanley increased its stake in Avinger by 52,153.2% in the 3rd quarter. Morgan Stanley now owns 256,563 shares of the medical device company’s stock valued at $191,000 after purchasing an additional 256,072 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Avinger by 797.2% in the 3rd quarter. Citadel Advisors LLC now owns 302,494 shares of the medical device company’s stock valued at $225,000 after purchasing an additional 268,778 shares in the last quarter. 12.13% of the stock is owned by institutional investors and hedge funds.

Shares of AVGR stock opened at $3.10 on Friday. The stock has a 50 day simple moving average of $5.53 and a 200-day simple moving average of $9.40. Avinger has a 12-month low of $2.80 and a 12-month high of $29.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 5.48 and a quick ratio of 4.50.

Avinger (NASDAQ:AVGRGet Rating) last issued its earnings results on Tuesday, March 22nd. The medical device company reported ($1.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.26). The business had revenue of $2.40 million during the quarter, compared to the consensus estimate of $2.30 million. Avinger had a negative return on equity of 117.96% and a negative net margin of 171.88%. During the same period in the prior year, the business posted ($1.40) EPS. Sell-side analysts expect that Avinger will post -4.67 earnings per share for the current year.

Avinger Company Profile (Get Rating)

Avinger, Inc is a commercial-stage medical device company, which engages in the designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease. Its products include Pantheris, Lightbox, Ocelot, Wildcat, Juicebox, and Kittycat.

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