Avinger Inc (AVGR) Sees Significant Increase in Short Interest

Avinger Inc (NASDAQ:AVGR) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,851,200 shares, an increase of 130.7% from the October 15th total of 802,281 shares. Based on an average trading volume of 1,272,256 shares, the short-interest ratio is presently 1.5 days. Approximately 16.1% of the shares of the company are sold short.

Shares of AVGR opened at $0.29 on Friday. The company has a market cap of $3.79 million, a PE ratio of 0.00 and a beta of 1.99. Avinger has a 12-month low of $0.27 and a 12-month high of $12.00.

Avinger (NASDAQ:AVGR) last announced its earnings results on Monday, August 13th. The medical device company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.50). The firm had revenue of $2.06 million for the quarter. As a group, research analysts predict that Avinger will post -7.22 EPS for the current year.

Separately, Zacks Investment Research upgraded shares of Avinger from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th.

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Avinger Company Profile

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.

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