Short Interest in Augmedix, Inc. (NASDAQ:AUGX) Decreases By 15.9%

Augmedix, Inc. (NASDAQ:AUGX) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,320,000 shares, a drop of 15.9% from the August 15th total of 1,570,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average trading volume of 862,500 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On Augmedix

Several large investors have recently added to or reduced their stakes in AUGX. Oppenheimer Asset Management Inc. acquired a new position in shares of Augmedix during the 1st quarter valued at about $56,000. SG Americas Securities LLC acquired a new position in Augmedix during the first quarter worth approximately $57,000. Norden Group LLC raised its stake in Augmedix by 50.2% during the first quarter. Norden Group LLC now owns 19,152 shares of the company’s stock worth $78,000 after purchasing an additional 6,401 shares during the period. Symmetry Peak Management LLC acquired a new position in shares of Augmedix in the 4th quarter valued at $88,000. Finally, PEAK6 Investments LLC purchased a new stake in shares of Augmedix during the 1st quarter valued at $112,000. 87.11% of the stock is currently owned by hedge funds and other institutional investors.

Augmedix Stock Performance

Shares of NASDAQ AUGX opened at $2.33 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $114.10 million, a PE ratio of -5.42 and a beta of -0.22. The company has a 50-day simple moving average of $2.06 and a 200-day simple moving average of $2.27. Augmedix has a 12 month low of $0.73 and a 12 month high of $6.25.

Augmedix (NASDAQ:AUGX) last released its earnings results on Monday, August 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Augmedix had a negative return on equity of 182.36% and a negative net margin of 46.23%. The firm had revenue of $13.66 million during the quarter, compared to analysts’ expectations of $13.68 million. On average, equities analysts anticipate that Augmedix will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AUGX shares. Lake Street Capital reaffirmed a “hold” rating on shares of Augmedix in a report on Monday, July 22nd. B. Riley downgraded Augmedix from a “strong-buy” rating to a “hold” rating and cut their price objective for the stock from $3.00 to $2.35 in a research report on Friday, July 19th. Finally, William Blair cut Augmedix from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Augmedix presently has a consensus rating of “Hold” and a consensus target price 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.