Short Interest in DocGo Inc. (NASDAQ:DCGO) Declines By 11.6%

DocGo Inc. (NASDAQ:DCGOGet Rating) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 7,850,000 shares, a drop of 11.6% from the July 15th total of 8,880,000 shares. Currently, 10.2% of the shares of the stock are sold short. Based on an average daily volume of 914,700 shares, the days-to-cover ratio is presently 8.6 days.

Analyst Ratings Changes

DCGO has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of DocGo in a report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of DocGo in a report on Tuesday, April 19th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Canaccord Genuity Group lowered their target price on shares of DocGo from $13.00 to $10.00 in a report on Wednesday, May 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.00.

Institutional Investors Weigh In On DocGo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC lifted its holdings in DocGo by 333.8% during the 1st quarter. Hood River Capital Management LLC now owns 2,690,781 shares of the company’s stock valued at $24,890,000 after buying an additional 2,070,544 shares in the last quarter. Light Street Capital Management LLC bought a new stake in DocGo during the 4th quarter valued at about $24,282,000. Emerald Advisers LLC lifted its holdings in DocGo by 39.1% during the 2nd quarter. Emerald Advisers LLC now owns 1,843,239 shares of the company’s stock valued at $13,161,000 after buying an additional 518,452 shares in the last quarter. State Street Corp lifted its holdings in DocGo by 352.2% during the 2nd quarter. State Street Corp now owns 1,660,004 shares of the company’s stock valued at $11,852,000 after buying an additional 1,292,941 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in DocGo by 45.0% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 1,513,476 shares of the company’s stock valued at $10,806,000 after buying an additional 469,914 shares in the last quarter. Institutional investors own 16.03% of the company’s stock.

DocGo Price Performance

Shares of DocGo stock traded up $0.18 during trading on Wednesday, hitting $10.42. The stock had a trading volume of 70,655 shares, compared to its average volume of 686,683. DocGo has a 12 month low of $4.96 and a 12 month high of $11.86. The firm’s fifty day simple moving average is $7.79 and its 200-day simple moving average is $7.55.

DocGo Company Profile

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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.

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