Short Interest in Augmedix, Inc. (NASDAQ:AUGX) Decreases By 54.0%

Augmedix, Inc. (NASDAQ:AUGX) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 790,700 shares, a decrease of 54.0% from the July 15th total of 1,720,000 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On Augmedix

A number of institutional investors have recently modified their holdings of AUGX. Oppenheimer Asset Management Inc. acquired a new position in shares of Augmedix during the 1st quarter worth about $56,000. SG Americas Securities LLC purchased a new stake in shares of Augmedix during the first quarter worth approximately $57,000. Norden Group LLC raised its stake 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 during the last quarter. Symmetry Peak Management LLC purchased a new position in Augmedix in the 4th quarter valued at $88,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of Augmedix during the 1st quarter worth approximately $112,000. 87.11% of the stock is currently owned by institutional investors and hedge funds.

Augmedix Stock Performance

Augmedix stock traded up $0.01 during mid-day trading on Wednesday, hitting $2.27. The company had a trading volume of 61,848 shares, compared to its average volume of 739,609. The company has a market capitalization of $111.16 million, a price-to-earnings ratio of -5.26 and a beta of -0.22. Augmedix has a 12-month low of $0.73 and a 12-month high of $6.25. The company’s fifty day moving average is $1.37 and its 200-day moving average is $2.64. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.73.

Augmedix (NASDAQ:AUGX) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.25 million. Augmedix had a negative net margin of 41.95% and a negative return on equity of 178.34%. Equities research analysts predict that Augmedix will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on AUGX. Lake Street Capital reissued a “hold” rating on shares of Augmedix in a research report on Monday, July 22nd. Evercore ISI cut Augmedix from an “outperform” rating to an “inline” rating and decreased their price target for the company from $5.00 to $1.50 in a research note on Tuesday, May 14th. Maxim Group lowered Augmedix from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a research note on Tuesday, May 14th. William Blair lowered shares of Augmedix from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, 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 research note on Friday, July 19th. Four analysts have rated the stock with a hold rating, According to MarketBeat, Augmedix presently has a consensus rating of “Hold” and an average target price of $3.09.

About Augmedix

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.