Augmedix, Inc. (NASDAQ:AUGX) Sees Significant Drop in Short Interest

Augmedix, Inc. (NASDAQ:AUGX) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,320,000 shares, a decline of 15.9% from the August 15th total of 1,570,000 shares. Based on an average trading volume of 862,500 shares, the short-interest ratio is presently 1.5 days. Approximately 2.7% of the company’s shares are sold short.

Institutional Trading of Augmedix

Several institutional investors and hedge funds have recently made changes to their positions in AUGX. Jump Financial LLC grew its stake in Augmedix by 82.6% in the fourth quarter. Jump Financial LLC now owns 68,308 shares of the company’s stock worth $400,000 after purchasing an additional 30,900 shares in the last quarter. Boston Partners lifted its holdings in shares of Augmedix by 33.6% during the 4th quarter. Boston Partners now owns 84,036 shares of the company’s stock valued at $492,000 after purchasing an additional 21,157 shares during the last quarter. Ghisallo Capital Management LLC acquired a new stake in Augmedix in the 4th quarter worth approximately $146,000. Symmetry Peak Management LLC acquired a new stake in shares of Augmedix during the fourth quarter worth $88,000. Finally, Parkman Healthcare Partners LLC lifted its position in 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 acquiring an additional 639,732 shares during the period. 87.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AUGX. B. Riley lowered shares of Augmedix from a “strong-buy” rating to a “hold” rating and decreased their price target for the stock from $3.00 to $2.35 in a research note on Friday, July 19th. Lake Street Capital reaffirmed a “hold” rating on shares of Augmedix in a research report on Monday, July 22nd. Finally, William Blair cut Augmedix from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.09.

Augmedix Price Performance

NASDAQ:AUGX traded up $0.01 during trading hours on Monday, reaching $2.34. The stock had a trading volume of 39,253 shares, compared to its average volume of 670,900. The company has a 50 day moving average price of $2.04 and a two-hundred day moving average price of $2.28. Augmedix has a 52 week low of $0.73 and a 52 week high of $6.25. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $114.59 million, a PE ratio of -5.42 and a beta of -0.22.

Augmedix (NASDAQ:AUGX) last released its quarterly 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). The company had revenue of $13.66 million during the quarter, compared to analysts’ expectations of $13.68 million. Augmedix had a negative return on equity of 182.36% and a negative net margin of 46.23%. As a group, sell-side analysts anticipate that Augmedix will post -0.45 earnings per share for the current fiscal year.

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.