Avinger, Inc. (NASDAQ:AVGR) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 2,239,364 shares, an increase of 24.6% from the July 14th total of 1,797,593 shares. Based on an average daily trading volume, of 476,700 shares, the short-interest ratio is currently 4.7 days. Currently, 10.2% of the shares of the stock are short sold.
Shares of Avinger (NASDAQ AVGR) opened at 0.29 on Friday. The firm’s market capitalization is $6.93 million. The stock has a 50 day moving average of $0.46 and a 200-day moving average of $1.13. Avinger has a 52-week low of $0.26 and a 52-week high of $5.15.
Several hedge funds have recently bought and sold shares of the stock. Broadfin Capital LLC bought a new stake in Avinger during the first quarter valued at $950,000. RMB Capital Management LLC boosted its stake in Avinger by 198.7% in the first quarter. RMB Capital Management LLC now owns 906,552 shares of the medical device company’s stock valued at $1,722,000 after buying an additional 603,100 shares during the period. Finally, Blair William & Co. IL boosted its stake in Avinger by 5.0% in the first quarter. Blair William & Co. IL now owns 73,900 shares of the medical device company’s stock valued at $188,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 61.11% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Avinger from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Avinger presently has an average rating of “Hold” and an average price target of $4.13.
Avinger Company Profile
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.
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