Avinger Inc (AVGR) Short Interest Up 130.7% in October

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

Separately, Zacks Investment Research cut shares of Avinger from a “hold” rating to a “sell” rating in a report on Friday, August 17th.

Shares of NASDAQ:AVGR opened at $0.29 on Friday. The firm has a market cap of $3.81 million, a price-to-earnings ratio of 0.00 and a beta of 1.99. Avinger has a 1-year low of $0.27 and a 1-year high of $12.00.

Avinger (NASDAQ:AVGR) last issued its earnings results on Monday, August 13th. The medical device company reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.50). The business had revenue of $2.06 million for the quarter. Sell-side analysts anticipate that Avinger will post -7.22 EPS for the current fiscal year.

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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.

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