Recent insider trends for Avinger, Inc. (NASDAQ:AVGR) have caught the attention of investors. Analysts monitor insider data to understand the sentiment of a company’s largest and most important shareholders. AVGR’s insider trading patterns have some implications for where the stock might be headed.
Institutions own 15.51% of Avinger, Inc. (AVGR)’s shares. The total value of these holdings, in millions, is $1. Among active positions in the latest quarter, 14 holders increased their positions by a total of 1.77 million shares, 39 holders decreased the positions by a total of 11.97 million shares, and 5 holders held their positions. This works out to a net decrease in ownership of 10.2 million shares, and suggests that institutions are feeling bearish about the stock.
Among new and sold out positions, 8 holders initiated new positions by a total of 1.51 million shares and 24 holders exited their positions by a total of 10.6 million shares. This nets out to a decrease of 9.09 million shares and is another bearish sign for AVGR.
In the last three months, insiders executed a total of 2 trades. 2 of these were buys. Insider ownership increased by a total of 5000 shares, which suggests that AVGR’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 12 buys, and ownership increased by a net of 145000 shares.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Avinger, Inc. (NASDAQ:AVGR)’s short interest is 2.64 million shares, or 12.65% of the float. This represents an increase of 22% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that AVGR is a Weak buy, which implies that AVGR is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Avinger, Inc. (NASDAQ:AVGR) is undervalued.