Augmedix (NASDAQ:AUGX) Cut to "Hold" at Maxim Group

Augmedix (NASDAQ:AUGX - Get Free Report) was downgraded by investment analysts at Maxim Group from a "buy" rating to a "hold" rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $5.00 price target on the stock. Maxim Group's target price indicates a potential upside of 338.60% from the stock's previous close.

Several other equities research analysts also recently commented on the company. B. Riley initiated coverage on Augmedix in a report on Wednesday, April 3rd. They issued a "buy" rating and a $5.50 price objective for the company. Evercore ISI downgraded Augmedix from an "outperform" rating to an "inline" rating and reduced their price objective for the stock from $5.00 to $1.50 in a report on Tuesday.

Augmedix Stock Down 51.3 %

Shares of NASDAQ:AUGX traded down $1.20 on Tuesday, hitting $1.14. 12,988,491 shares of the company traded hands, compared to its average volume of 511,220. Augmedix has a 52 week low of $0.99 and a 52 week high of $6.25. 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 has a 50 day simple moving average of $3.47 and a 200-day simple moving average of $4.49. The company has a market cap of $55.83 million, a PE ratio of -2.58 and a beta of 0.03.

Augmedix (NASDAQ:AUGX - Get Free Report) last issued its quarterly earnings results on Monday, March 18th. The company reported ($0.09) earnings per share for the quarter. Augmedix had a negative net margin of 42.74% and a negative return on equity of 308.50%. The company had revenue of $12.68 million for the quarter, compared to the consensus estimate of $12.30 million. As a group, research 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 45,906 shares of the company's stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $4.11, for a total value of $188,673.66. Following the completion of the sale, the insider now directly owns 95,665 shares in the company, valued at approximately $393,183.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 251,323 shares of company stock valued at $1,005,527. 10.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Augmedix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in shares of Augmedix by 292.0% in the fourth quarter. Russell Investments Group Ltd. now owns 891,077 shares of the company's stock valued at $5,213,000 after purchasing an additional 663,778 shares during the period. Essex Investment Management Co. LLC purchased a new stake in Augmedix in the 3rd quarter worth approximately $2,237,000. Calamos Advisors LLC purchased a new stake in Augmedix in the 4th quarter worth approximately $886,000. Acadian Asset Management LLC purchased a new stake in Augmedix in the 3rd quarter worth approximately $48,000. Finally, Citigroup Inc. purchased a new stake in Augmedix in the 3rd quarter worth approximately $241,000. 87.11% of the stock is currently owned by hedge funds and other institutional investors.

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.