Short Interest in Augmedix, Inc. (NASDAQ:AUGX) Expands By 11.2%

Augmedix, Inc. (NASDAQ:AUGX) saw 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. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 377,800 shares, the short-interest ratio is currently 2.2 days.

Insiders Place Their Bets

In other Augmedix news, insider Ian Shakil sold 58,978 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $3.91, for a total transaction of $230,603.98. Following the completion of the sale, the insider now directly owns 180,034 shares in the company, valued at approximately $703,932.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 250,823 shares of company stock worth $1,003,627. Corporate insiders own 10.97% of the company’s stock.

Institutional Trading of Augmedix

Several hedge funds have recently modified their holdings of AUGX. Acadian Asset Management LLC acquired a new stake in shares of Augmedix in the third quarter valued at $48,000. Worth Venture Partners LLC acquired a new stake in shares of Augmedix in the third quarter valued at $83,000. Symmetry Peak Management LLC purchased a new position in Augmedix in the fourth quarter valued at $88,000. Barclays PLC purchased a new position in Augmedix in the third quarter valued at $115,000. Finally, Thompson Davis & CO. Inc. purchased a new position in Augmedix in the fourth quarter valued at $120,000. 87.11% of the stock is currently owned by institutional investors and hedge funds.

Augmedix Stock Down 3.8 %

NASDAQ:AUGX opened at $3.81 on Monday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $4.13 and its two-hundred day moving average is $4.82. Augmedix has a 52 week low of $1.50 and a 52 week high of $6.25. The stock has a market capitalization of $185.70 million, a price-to-earnings ratio of -8.47 and a beta of -0.16.

Augmedix (NASDAQ:AUGX) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $12.68 million during the quarter, compared to analyst estimates of $12.30 million. Augmedix had a negative net margin of 42.74% and a negative return on equity of 308.50%. Research analysts anticipate that Augmedix will post -0.51 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Maxim Group lowered their price objective on Augmedix from $6.50 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Evercore ISI upgraded Augmedix from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $4.50 to $5.00 in a research report on Tuesday, April 9th. Finally, B. Riley began coverage on Augmedix in a research note on Wednesday, April 3rd. They set a “buy” rating and a $5.50 price target on the stock.

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.