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

Avinger, Inc. (NASDAQ:AVGR) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 89,600 shares, a growth of 281.3% from the February 29th total of 23,500 shares. Based on an average daily volume of 52,500 shares, the short-interest ratio is currently 1.7 days. Approximately 5.6% of the company’s stock are short sold.

Institutional Investors Weigh In On Avinger

Several large investors have recently made changes to their positions in AVGR. Renaissance Technologies LLC bought a new stake in shares of Avinger in the 2nd quarter valued at approximately $42,000. Prosperity Wealth Management Inc. bought a new stake in Avinger during the second quarter worth approximately $49,000. Dimensional Fund Advisors LP bought a new stake in Avinger during the first quarter worth approximately $64,000. Finally, Armistice Capital LLC boosted its position in Avinger by 7.8% during the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after purchasing an additional 52,000 shares during the period. Institutional investors own 18.30% of the company’s stock.

Avinger Stock Performance

Shares of NASDAQ AVGR traded up $0.16 during trading hours on Friday, hitting $3.10. The stock had a trading volume of 31,740 shares, compared to its average volume of 100,221. The company has a market capitalization of $5.27 million, a P/E ratio of -0.12 and a beta of 1.30. The firm’s 50-day moving average price is $3.13 and its two-hundred day moving average price is $4.23. Avinger has a 52 week low of $2.50 and a 52 week high of $18.00.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com assumed coverage on Avinger in a report on Saturday, March 23rd. They issued a “hold” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Avinger in a report on Thursday, March 21st.

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) in the United States and internationally. 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.