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

Augmedix, Inc. (NASDAQ:AUGX) was the target of a large decline in short interest during the month of 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. Currently, 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in shares of Augmedix by 292.0% during the 4th quarter. Russell Investments Group Ltd. now owns 891,077 shares of the company’s stock worth $5,213,000 after purchasing an additional 663,778 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Augmedix by 170.1% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,015,814 shares of the company’s stock worth $5,943,000 after purchasing an additional 639,732 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Augmedix by 102.7% during the 1st quarter. Ancora Advisors LLC now owns 444,660 shares of the company’s stock worth $1,819,000 after purchasing an additional 225,330 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Augmedix by 79.0% during the 1st quarter. Hood River Capital Management LLC now owns 490,238 shares of the company’s stock worth $2,005,000 after purchasing an additional 216,339 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Augmedix by 16.0% during the 1st 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 in the last quarter. 87.11% of the stock is owned by institutional investors.

Augmedix Stock Performance

NASDAQ AUGX remained flat at $2.27 during trading on Tuesday. The company’s stock had a trading volume of 361,441 shares, compared to its average volume of 743,453. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $1.11 and its 200 day moving average is $2.84. Augmedix has a 52 week low of $0.73 and a 52 week high of $6.25.

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

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.