Hedge Funds Are Crazy About Avinger Inc (AVGR)

As industrywide interest jumped, specific money managers were breaking ground themselves. Pura Vida Investments established the largest position in Avinger Inc (NASDAQ:AVGR. Anand Parekh’s Alyeska Investment Group also initiated a $1.8 million position during the quarter. The other funds with brand new AVGR positions are Pura Vida Investments, Nathan Fischel’s DAFNA Capital Management, and Millennium Management which is one of the 10 largest hedge funds in the world.

Let’s now take a look at hedge fund activity in other stocks similar to Avinger Inc (NASDAQ:AVGR). These stocks are Petroquest Energy Inc (NYSE:PQ), BSQUARE Corporation (NASDAQ:BSQR), Juniper Pharmaceuticals Inc (NASDAQ:JNP), and Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF). This group of stocks’ market valuations are closest to AVGR’s market valuation.

As you can see these stocks had an average of 3 hedge funds with bullish positions and the average amount invested in these stocks was $4 million. That figure was $9 million in AVGR’s case. Petroquest Energy Inc (NYSE:PQ) is the most popular stock in this table. On the other hand BSQUARE Corporation (NASDAQ:BSQR) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Avinger Inc (NASDAQ:AVGR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None