DocGo Inc. (NASDAQ:DCGO) Sees Significant Growth in Short Interest

DocGo Inc. (NASDAQ:DCGO) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 10,490,000 shares, a growth of 5.9% from the March 15th total of 9,910,000 shares. Currently, 12.1% of the shares of the stock are short sold. Based on an average trading volume of 1,600,000 shares, the days-to-cover ratio is currently 6.6 days.

DocGo Price Performance

Shares of DCGO stock traded up $0.03 during trading on Tuesday, reaching $3.28. The company had a trading volume of 290,125 shares, compared to its average volume of 1,574,947. The firm’s 50 day simple moving average is $3.73 and its two-hundred day simple moving average is $4.68. DocGo has a one year low of $2.78 and a one year high of $10.82. The company has a market capitalization of $341.68 million, a PE ratio of 46.43, a PEG ratio of 0.33 and a beta of 0.91.

DocGo (NASDAQ:DCGO) last announced its earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $199.25 million during the quarter, compared to the consensus estimate of $195.48 million. DocGo had a return on equity of 2.01% and a net margin of 1.10%. Analysts forecast that DocGo will post 0.35 earnings per share for the current year.

Insider Buying and Selling at DocGo

In other DocGo news, Director Michael J. Burdiek bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $3.61 per share, for a total transaction of $36,100.00. Following the acquisition, the director now directly owns 571,595 shares of the company’s stock, valued at $2,063,457.95. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 13.78% of the stock is owned by corporate insiders.

Institutional Trading of DocGo

Institutional investors and hedge funds have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C lifted its stake in DocGo by 55.7% in the third quarter. Deerfield Management Company L.P. Series C now owns 4,764,000 shares of the company’s stock valued at $25,392,000 after buying an additional 1,705,000 shares during the period. State Street Corp raised its holdings in DocGo by 352.2% in the second quarter. State Street Corp now owns 1,660,004 shares of the company’s stock worth $11,852,000 after purchasing an additional 1,292,941 shares during the period. Sectoral Asset Management Inc. bought a new position in shares of DocGo during the third quarter worth $3,472,000. Northern Trust Corp grew its holdings in shares of DocGo by 425.3% in the 2nd quarter. Northern Trust Corp now owns 698,573 shares of the company’s stock valued at $4,989,000 after buying an additional 565,582 shares during the period. Finally, BlackRock Inc. raised its stake in DocGo by 6.6% during the 2nd quarter. BlackRock Inc. now owns 6,029,276 shares of the company’s stock worth $56,494,000 after buying an additional 373,332 shares during the period. Institutional investors own 56.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DCGO shares. Canaccord Genuity Group dropped their price target on DocGo from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. BTIG Research reduced their price objective on DocGo from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Cantor Fitzgerald lowered their target price on DocGo from $13.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC dropped their target price on DocGo from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, Stifel Nicolaus decreased their price target on shares of DocGo from $11.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.83.

DocGo Company Profile

DocGo Inc provides mobile health and medical transportation services for various health care providers in the United States and the United Kingdom. The company's transportation services include emergency response services; and non-emergency transport services comprise ambulance and wheelchair transportation services.