Avinger Inc. (NASDAQ:AVGR) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,250,430 shares, a growth of 27.5% from the September 15th total of 980,669 shares. Based on an average daily volume of 302,474 shares, the short-interest ratio is presently 4.1 days. Approximately 6.4% of the company’s stock are short sold.
A number of research analysts have recently weighed in on AVGR shares. BTIG Research reissued a “buy” rating and set a $6.00 target price (down from $18.00) on shares of Avinger in a research report on Monday, August 15th. Zacks Investment Research raised shares of Avinger from a “sell” rating to a “hold” rating in a research report on Friday, July 1st. Finally, Canaccord Genuity reissued a “buy” rating on shares of Avinger in a research report on Tuesday, July 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Avinger currently has an average rating of “Buy” and an average price target of $15.75.
In other news, CEO Jeffrey M. Soinski acquired 57,100 shares of Avinger stock in a transaction on Tuesday, August 16th. The stock was acquired at an average cost of $3.50 per share, with a total value of $199,850.00. Following the transaction, the chief executive officer now owns 59,345 shares of the company’s stock, valued at approximately $207,707.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 30.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AVGR. Blair William & Co. IL boosted its position in shares of Avinger by 19.7% in the second quarter. Blair William & Co. IL now owns 59,425 shares of the medical device company’s stock worth $709,000 after buying an additional 9,800 shares during the period. Royce & Associates LP boosted its position in shares of Avinger by 45.8% in the second quarter. Royce & Associates LP now owns 596,775 shares of the medical device company’s stock worth $7,120,000 after buying an additional 187,600 shares during the period. California State Teachers Retirement System acquired a new position in shares of Avinger during the second quarter worth about $273,000. Bank of New York Mellon Corp acquired a new position in shares of Avinger during the second quarter worth about $363,000. Finally, Bridgeway Capital Management Inc. acquired a new position in shares of Avinger during the second quarter worth about $179,000. 50.73% of the stock is owned by institutional investors.
Shares of Avinger (NASDAQ:AVGR) opened at 4.87 on Friday. The stock’s market capitalization is $62.54 million. Avinger has a 52 week low of $3.55 and a 52 week high of $25.11. The company’s 50 day moving average is $4.58 and its 200-day moving average is $8.33.
Avinger (NASDAQ:AVGR) last issued its quarterly earnings results on Monday, August 1st. The medical device company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.09. Avinger had a negative net margin of 380.95% and a negative return on equity of 636.94%. The company earned $4.70 million during the quarter, compared to analysts’ expectations of $3.05 million. On average, equities analysts predict that Avinger will post ($3.96) earnings per share for the current year.
Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.
Receive News & Ratings for Avinger Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avinger Inc. and related companies with MarketBeat.com's FREE daily email newsletter.