Avinger, Inc. (NASDAQ:AVGR) Short Interest Down 16.9% in April

Avinger, Inc. (NASDAQ:AVGR) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 41,800 shares, a drop of 16.9% from the March 31st total of 50,300 shares. Based on an average daily trading volume, of 53,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.9% of the shares of the company are sold short.

Analyst Ratings Changes

AVGR has been the subject of several recent analyst reports. StockNews.com began coverage on Avinger in a research note on Wednesday, April 24th. They set a “hold” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Avinger in a research note on Thursday, March 21st.

Avinger Price Performance

NASDAQ:AVGR traded down $0.20 on Monday, hitting $3.73. The company’s stock had a trading volume of 6,000 shares, compared to its average volume of 45,338. Avinger has a one year low of $2.50 and a one year high of $18.00. The stock has a fifty day moving average of $3.47 and a two-hundred day moving average of $3.32.

Avinger (NASDAQ:AVGR) last issued its earnings results on Wednesday, March 20th. The medical device company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($4.57). The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.52 million. On average, analysts anticipate that Avinger will post -2.08 earnings per share for the current 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.