Short Interest in Augmedix, Inc. (NASDAQ:AUGX) Drops By 18.9%

Augmedix, Inc. (NASDAQ:AUGX) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,070,000 shares, a decrease of 18.9% from the August 31st total of 1,320,000 shares. Based on an average daily trading volume, of 822,500 shares, the short-interest ratio is currently 1.3 days. Approximately 2.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Augmedix

A number of institutional investors and hedge funds have recently bought and sold shares of AUGX. Ghisallo Capital Management LLC purchased a new stake in Augmedix in the fourth quarter valued at approximately $146,000. Symmetry Peak Management LLC purchased a new stake in Augmedix in the fourth quarter valued at approximately $88,000. Parkman Healthcare Partners LLC raised its stake in Augmedix by 170.1% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,015,814 shares of the company’s stock valued at $5,943,000 after purchasing an additional 639,732 shares in the last quarter. Norden Group LLC raised its stake in shares of Augmedix by 50.2% during the first quarter. Norden Group LLC now owns 19,152 shares of the company’s stock worth $78,000 after acquiring an additional 6,401 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in shares of Augmedix by 31.1% during the first quarter. Essex Investment Management Co. LLC now owns 528,985 shares of the company’s stock worth $2,164,000 after acquiring an additional 125,457 shares in the last quarter. 87.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. B. Riley downgraded shares of Augmedix from a “strong-buy” rating to a “hold” rating and lowered their price objective for the stock from $3.00 to $2.35 in a report on Friday, July 19th. William Blair downgraded shares of Augmedix from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Lake Street Capital reiterated a “hold” rating on shares of Augmedix in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.09.

Augmedix Stock Performance

Shares of AUGX stock remained flat at $2.33 during trading hours on Friday. 40,644 shares of the stock were exchanged, compared to its average volume of 641,913. The stock has a 50 day simple moving average of $2.29 and a two-hundred day simple moving average of $2.20. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.48. Augmedix has a one year low of $0.73 and a one year high of $6.25. The firm has a market capitalization of $114.10 million, a price-to-earnings ratio of -5.42 and a beta of -0.22.

Augmedix (NASDAQ:AUGX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $13.66 million during the quarter, compared to the consensus estimate of $13.68 million. Augmedix had a negative net margin of 46.23% and a negative return on equity of 182.36%. As a group, equities research analysts anticipate that Augmedix will post -0.45 EPS for the current fiscal year.

Augmedix Company Profile

Augmedix, Inc provides remote medical documentation solutions and live clinical support services in the United States. Its platform offers Augmedix Live that provides synchronous medical note documentation and point of care support; Augmedix Go Assist that offers asynchronous medical documentation based upon previously recorded visits; Augmedix Prep that provides patient demographics, past medical history, medication changes and other points from the patient's health record; and Augmedix Go, an autonomous, ambient AI mobile software application that offers fully automated medical documentation based upon recorded visits.