DocGo Inc. (NASDAQ:DCGO) Short Interest Up 5.9% in March

DocGo Inc. (NASDAQ:DCGO) was the target of a significant growth in short interest in 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 daily volume of 1,600,000 shares, the short-interest ratio is presently 6.6 days.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Michael J. Burdiek acquired 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $3.61 per share, with a total value of $36,100.00. Following the completion of the purchase, the director now owns 571,595 shares of the company’s stock, valued at approximately $2,063,457.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.78% of the company’s stock.

Institutional Trading of DocGo

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

DocGo Stock Up 3.1 %

NASDAQ:DCGO opened at $3.36 on Thursday. DocGo has a 52 week low of $2.78 and a 52 week high of $10.82. The stock’s fifty day moving average is $3.73 and its two-hundred day moving average is $4.66. The stock has a market capitalization of $350.01 million, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 0.33 and a beta of 0.91.

DocGo (NASDAQ:DCGO) last posted its earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). DocGo had a return on equity of 2.01% and a net margin of 1.10%. The firm had revenue of $199.25 million for the quarter, compared to analyst estimates of $195.48 million. On average, sell-side analysts expect that DocGo will post 0.35 EPS for the current fiscal year.

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.