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

Augmedix, Inc. (NASDAQ:AUGX) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,540,000 shares, a decrease of 12.5% from the May 15th total of 1,760,000 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average trading volume of 718,600 shares, the short-interest ratio is currently 2.1 days.

Augmedix Stock Performance

Shares of AUGX stock traded down $0.02 during mid-day trading on Friday, reaching $0.78. The stock had a trading volume of 227,508 shares, compared to its average volume of 591,694. The firm’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $3.82. 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 has a one year low of $0.73 and a one year high of $6.25. The firm has a market cap of $38.03 million, a PE ratio of -1.81 and a beta of -0.27.

Augmedix (NASDAQ:AUGX) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.12) EPS 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 company had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.25 million. On average, analysts forecast that Augmedix will post -0.45 EPS for the current year.

Insider Activity

In other news, insider Ian Shakil sold 58,978 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $3.91, for a total transaction of $230,603.98. Following the transaction, the insider now owns 180,034 shares of the company’s stock, valued at approximately $703,932.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 260,359 shares of company stock valued at $1,016,280. Insiders own 10.97% of the company’s stock.

Institutional Trading of Augmedix

A number of hedge funds have recently modified their holdings of the company. Perkins Capital Management Inc. lifted its position in shares of 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 acquiring an additional 73,475 shares during the period. Vanguard Group Inc. lifted its position 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 buying an additional 179,534 shares during the period. Parkman Healthcare Partners LLC lifted its position 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 buying an additional 639,732 shares during the period. Russell Investments Group Ltd. lifted its position 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 buying an additional 663,778 shares during the period. Finally, Essex Investment Management Co. LLC lifted its position in shares of Augmedix by 31.1% during the 1st quarter. Essex Investment Management Co. LLC now owns 528,985 shares of the company’s stock worth $2,164,000 after buying an additional 125,457 shares during the period. Institutional investors own 87.11% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AUGX shares. Evercore ISI downgraded Augmedix from an “outperform” rating to an “inline” rating and decreased their target price for the company from $5.00 to $1.50 in a research note on Tuesday, May 14th. B. Riley started coverage on Augmedix in a research note on Wednesday, April 3rd. They set a “buy” rating and a $5.50 target price for the company. Lake Street Capital decreased their target price on Augmedix from $8.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, May 14th. Finally, Maxim Group downgraded Augmedix from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research note on Tuesday, May 14th.

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.