Renaissance Technologies LLC Lowers Position in Augmedix, Inc. (NASDAQ:AUGX)

Renaissance Technologies LLC cut its holdings in shares of Augmedix, Inc. (NASDAQ:AUGX) by 33.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,200 shares of the company’s stock after selling 27,000 shares during the quarter. Renaissance Technologies LLC owned about 0.11% of Augmedix worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AUGX. Oppenheimer Asset Management Inc. purchased a new position in Augmedix during the 1st quarter valued at about $56,000. SG Americas Securities LLC purchased a new position in Augmedix during the 1st quarter valued at about $57,000. Norden Group LLC raised its position in Augmedix by 50.2% in the 1st quarter. Norden Group LLC now owns 19,152 shares of the company’s stock valued at $78,000 after purchasing an additional 6,401 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in Augmedix in the 1st quarter valued at about $112,000. Finally, FourWorld Capital Management LLC acquired a new stake in Augmedix in the 1st quarter valued at about $207,000. 87.11% of the stock is currently owned by hedge funds and other institutional investors.

Augmedix Stock Performance

NASDAQ AUGX opened at $2.35 on Tuesday. The stock has a market cap of $115.07 million, a price-to-earnings ratio of -5.47 and a beta of -0.22. The business has a fifty day moving average of $2.31 and a 200-day moving average of $2.06. Augmedix, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $6.25. 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 (NASDAQ:AUGX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Augmedix had a negative net margin of 46.23% and a negative return on equity of 182.36%. The firm had revenue of $13.66 million for the quarter, compared to analysts’ expectations of $13.68 million. As a group, analysts predict that Augmedix, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.