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

Augmedix, Inc. (NASDAQ:AUGX) saw a significant 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. Based on an average daily trading volume, of 862,500 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On Augmedix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. bought a new stake in shares of Augmedix during the 1st quarter valued at approximately $56,000. SG Americas Securities LLC bought a new position in shares of Augmedix in the 1st quarter valued at $57,000. Symmetry Peak Management LLC bought a new position in shares of Augmedix in the 4th quarter valued at $88,000. Norden Group LLC grew its position in Augmedix by 50.2% during the 1st quarter. Norden Group LLC now owns 19,152 shares of the company’s stock worth $78,000 after acquiring an additional 6,401 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in Augmedix in the fourth quarter valued at about $146,000. 87.11% of the stock is currently owned by institutional investors.

Augmedix Stock Up 0.4 %

AUGX traded up $0.01 during trading on Monday, reaching $2.34. 39,253 shares of the stock were exchanged, compared to its average volume of 670,900. 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’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $2.28. The stock has a market cap of $114.59 million, a P/E ratio of -5.42 and a beta of -0.22. Augmedix has a twelve month low of $0.73 and a twelve month high of $6.25.

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

Analyst Ratings Changes

AUGX has been the topic of a number of recent research reports. Lake Street Capital reiterated a “hold” rating on shares of Augmedix in a research report on Monday, July 22nd. B. Riley cut Augmedix from a “strong-buy” rating to a “hold” rating and dropped their price objective for the stock from $3.00 to $2.35 in a report on Friday, July 19th. Finally, William Blair downgraded shares of Augmedix from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.09.

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.