Lake Street Capital Lowers Augmedix (NASDAQ:AUGX) Price Target to $3.50

Augmedix (NASDAQ:AUGX - Free Report) had its target price cut by Lake Street Capital from $8.00 to $3.50 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on AUGX. Evercore ISI cut Augmedix from an outperform rating to an inline rating and reduced their price objective for the company from $5.00 to $1.50 in a research report on Tuesday. B. Riley assumed coverage on Augmedix in a report on Wednesday, April 3rd. They issued a buy rating and a $5.50 target price for the company. Finally, Maxim Group lowered shares of Augmedix from a buy rating to a hold rating and set a $5.00 price target on the stock. in a research report on Tuesday.

Augmedix Trading Down 51.1 %

NASDAQ AUGX traded down $1.19 on Tuesday, hitting $1.15. 13,033,759 shares of the company were exchanged, compared to its average volume of 511,220. The company's 50 day moving average price is $3.37 and its 200-day moving average price is $4.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $56.07 million, a P/E ratio of -2.54 and a beta of 0.03. Augmedix has a twelve month low of $0.99 and a twelve month high of $6.25.

Augmedix (NASDAQ:AUGX - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $12.30 million. Augmedix had a negative return on equity of 308.50% and a negative net margin of 42.74%. Analysts predict that Augmedix will post -0.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Augmedix news, insider Ian Shakil sold 24,778 shares of Augmedix stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $3.93, for a total value of $97,377.54. Following the completion of the transaction, the insider now owns 3,000 shares in the company, valued at approximately $11,790. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 251,323 shares of company stock worth $1,005,527. 10.97% of the stock is currently owned by company insiders.

Institutional Trading of Augmedix

A number of institutional investors have recently modified their holdings of the company. Jump Financial LLC grew its stake in Augmedix by 173.1% during the third quarter. Jump Financial LLC now owns 37,408 shares of the company's stock worth $193,000 after purchasing an additional 23,708 shares during the period. Barclays PLC bought a new stake in Augmedix during the third quarter worth about $115,000. Essex Investment Management Co. LLC purchased a new position in shares of Augmedix in the third quarter worth about $2,237,000. Acadian Asset Management LLC purchased a new position in shares of Augmedix in the third quarter worth about $48,000. Finally, Worth Venture Partners LLC purchased a new position in shares of Augmedix in the third quarter worth about $83,000. 87.11% of the stock is currently owned by institutional investors.

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.