Augmedix, Inc. (NASDAQ:AUGX) Short Interest Update

Augmedix, Inc. (NASDAQ:AUGX) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,320,000 shares, a decline of 15.9% from the August 15th total of 1,570,000 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average trading volume of 862,500 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Augmedix

Several hedge funds and other institutional investors have recently made changes to their positions in AUGX. Oppenheimer Asset Management Inc. bought a new position in shares of Augmedix during the 1st quarter valued at approximately $56,000. SG Americas Securities LLC bought a new position in shares of Augmedix during the 1st quarter valued at $57,000. Norden Group LLC grew its holdings in Augmedix by 50.2% in the 1st quarter. Norden Group LLC now owns 19,152 shares of the company’s stock worth $78,000 after acquiring an additional 6,401 shares during the last quarter. Symmetry Peak Management LLC bought a new stake in Augmedix in the 4th quarter worth $88,000. Finally, PEAK6 Investments LLC purchased a new stake in shares of Augmedix in the 1st quarter worth about $112,000. 87.11% of the stock is owned by institutional investors.

Augmedix Price Performance

Shares of NASDAQ AUGX remained flat at $2.33 during midday trading on Wednesday. The stock had a trading volume of 24,056 shares, compared to its average volume of 663,931. The company has a market capitalization of $114.10 million, a price-to-earnings ratio of -5.42 and a beta of -0.22. The business has a 50 day moving average of $2.09 and a 200 day moving average of $2.25. 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.

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