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

Augmedix, Inc. (NASDAQ:AUGX) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 831,500 shares, an increase of 11.2% from the March 15th total of 748,000 shares. Based on an average daily trading volume, of 377,800 shares, the short-interest ratio is currently 2.2 days. Approximately 1.9% of the company’s stock are sold short.

Augmedix Trading Down 8.2 %

Shares of NASDAQ:AUGX opened at $3.45 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.41 and a quick ratio of 2.41. Augmedix has a 1 year low of $1.56 and a 1 year high of $6.25. The company has a market cap of $168.15 million, a P/E ratio of -7.67 and a beta of -0.16. The stock’s fifty day moving average price is $4.10 and its 200-day moving average price is $4.80.

Augmedix (NASDAQ:AUGX) last posted its earnings results on Monday, March 18th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $12.68 million for the quarter, compared to the consensus estimate of $12.30 million. Augmedix had a negative net margin of 42.74% and a negative return on equity of 308.50%. Sell-side analysts expect that Augmedix will post -0.51 earnings per share for the current year.

Insider Activity

In other Augmedix news, insider Ian Shakil sold 31,994 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $4.06, for a total value of $129,895.64. Following the sale, the insider now owns 187,666 shares in the company, valued at $761,923.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 250,823 shares of company stock worth $1,003,627. Corporate insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Augmedix by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 1,122,890 shares of the company’s stock valued at $6,569,000 after acquiring an additional 84,294 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Augmedix during the 4th quarter valued at about $323,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Augmedix during the 4th quarter valued at about $236,000. Parkman Healthcare Partners LLC lifted its stake in shares of Augmedix by 170.1% in 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 during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Augmedix by 175.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 58,597 shares of the company’s stock worth $343,000 after buying an additional 37,347 shares during the last quarter. Institutional investors own 87.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AUGX shares. Evercore ISI raised Augmedix from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $4.50 to $5.00 in a research report on Tuesday, April 9th. Maxim Group decreased their target price on shares of Augmedix from $6.50 to $5.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. Finally, B. Riley began coverage on shares of Augmedix in a report on Wednesday, April 3rd. They set a “buy” rating and a $5.50 price target on the stock.

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.