Augmedix, Inc. (NASDAQ:AUGX) Short Interest Down 15.7% in July

Augmedix, Inc. (NASDAQ:AUGX) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 1,720,000 shares, a decline of 15.7% from the June 30th total of 2,040,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is presently 1.5 days. Approximately 3.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Augmedix

Several institutional investors have recently bought and sold shares of AUGX. Perkins Capital Management Inc. increased its stake in Augmedix by 5.3% in the 4th quarter. Perkins Capital Management Inc. now owns 1,464,568 shares of the company’s stock worth $8,568,000 after purchasing an additional 73,475 shares during the period. Vanguard Group Inc. grew its holdings in shares of Augmedix by 16.0% in the first quarter. Vanguard Group Inc. now owns 1,302,424 shares of the company’s stock worth $5,327,000 after purchasing an additional 179,534 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in shares of Augmedix by 170.1% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,015,814 shares of the company’s stock worth $5,943,000 after buying an additional 639,732 shares during the period. Russell Investments Group Ltd. raised its holdings in Augmedix by 292.0% during the 4th quarter. Russell Investments Group Ltd. now owns 891,077 shares of the company’s stock valued at $5,213,000 after buying an additional 663,778 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its holdings in Augmedix by 31.1% during the 1st quarter. Essex Investment Management Co. LLC now owns 528,985 shares of the company’s stock valued at $2,164,000 after buying an additional 125,457 shares during the last quarter. 87.11% of the stock is currently owned by hedge funds and other institutional investors.

Augmedix Stock Performance

Shares of AUGX stock remained flat at $2.27 on Monday. 1,203,986 shares of the company traded hands, compared to its average volume of 746,098. The stock has a market cap of $111.16 million, a PE ratio of -5.30 and a beta of -0.27. The firm’s 50 day moving average is $1.09 and its two-hundred day moving average is $2.86. Augmedix has a 52 week low of $0.73 and a 52 week high of $6.25. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.73.

Augmedix (NASDAQ:AUGX) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). Augmedix had a negative net margin of 41.95% and a negative return on equity of 178.34%. The business had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.25 million. As a group, sell-side analysts anticipate that Augmedix will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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