Avinger, Inc. (NASDAQ:AVGR) was the recipient of a large 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 days-to-cover ratio is currently 4.7 days. Currently, 10.2% of the shares of the stock are sold short.

Separately, Zacks Investment Research cut shares of Avinger from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.13.

Avinger (NASDAQ AVGR) opened at 0.29 on Friday. The company has a 50-day moving average of $0.46 and a 200-day moving average of $1.13. Avinger has a 12 month low of $0.26 and a 12 month high of $5.15. The stock’s market cap is $6.93 million.

A number of institutional investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL raised its position 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. Broadfin Capital LLC acquired a new position in Avinger during the first quarter valued at approximately $950,000. Finally, RMB Capital Management LLC raised its position 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. Institutional investors and hedge funds own 61.11% of the company’s stock.

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About Avinger

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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