Augmedix, Inc. (NASDAQ:AUGX) Short Interest Down 54.0% in July

Augmedix, Inc. (NASDAQ:AUGX) saw 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. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analyst Weigh In

AUGX has been the subject of a number of research analyst reports. Evercore ISI lowered shares of Augmedix from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $5.00 to $1.50 in a research note on Tuesday, May 14th. William Blair lowered Augmedix from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Maxim Group downgraded shares of Augmedix from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a report on Tuesday, May 14th. Lake Street Capital restated a “hold” rating on shares of Augmedix in a research report on Monday, July 22nd. Finally, B. Riley downgraded shares of Augmedix from a “strong-buy” rating to a “hold” rating and lowered their price objective for the company from $3.00 to $2.35 in a research report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.09.

Augmedix Price Performance

Shares of AUGX stock traded up $0.01 during midday trading on Wednesday, reaching $2.27. 61,848 shares of the company were exchanged, compared to its average volume of 739,609. The company’s 50 day moving average price is $1.37 and its two-hundred day moving average price is $2.64. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market cap of $111.16 million, a P/E 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.

Augmedix (NASDAQ:AUGX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Augmedix had a negative return on equity of 178.34% and a negative net margin of 41.95%. The firm had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $13.25 million. On average, sell-side analysts expect that Augmedix will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Augmedix in the 1st quarter valued at approximately $56,000. SG Americas Securities LLC purchased a new position in Augmedix during the 1st quarter worth approximately $57,000. Symmetry Peak Management LLC acquired a new stake in Augmedix during the 4th quarter valued at $88,000. Norden Group LLC lifted its holdings in shares of Augmedix by 50.2% in the first 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. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Augmedix in the fourth quarter worth $120,000. 87.11% of the stock is owned by hedge funds and other institutional investors.

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.