Short Interest in DocGo Inc. (NASDAQ:DCGO) Declines By 15.2%

DocGo Inc. (NASDAQ:DCGO) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 6,540,000 shares, a decrease of 15.2% from the February 28th total of 7,710,000 shares. Currently, 7.5% of the shares of the stock are sold short. Based on an average trading volume of 818,200 shares, the short-interest ratio is presently 8.0 days.

Hedge Funds Weigh In On DocGo

A number of hedge funds and other institutional investors have recently modified their holdings of DCGO. Centiva Capital LP purchased a new stake in DocGo during the third quarter valued at about $43,000. Summit Investment Advisors Inc. lifted its position in shares of DocGo by 38.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company’s stock valued at $45,000 after acquiring an additional 2,968 shares in the last quarter. Prudential Financial Inc. acquired a new position in DocGo in the 4th quarter worth approximately $55,000. Intech Investment Management LLC purchased a new position in DocGo during the 3rd quarter worth approximately $62,000. Finally, Royce & Associates LP acquired a new stake in DocGo during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of DocGo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $5.00 to $2.85 in a research note on Friday, February 28th. Stifel Nicolaus dropped their price objective on DocGo from $6.50 to $5.50 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Needham & Company LLC decreased their target price on DocGo from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.89.

DocGo Price Performance

DCGO opened at $2.64 on Tuesday. The firm has a market cap of $269.24 million, a PE ratio of 9.43, a P/E/G ratio of 14.16 and a beta of 1.08. The business has a fifty day simple moving average of $4.00 and a 200-day simple moving average of $3.91. DocGo has a fifty-two week low of $2.51 and a fifty-two week high of $5.68.

About DocGo

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.