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 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. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is currently 6.6 days. Approximately 12.1% of the company’s stock are short sold.

Insider Buying and Selling

In related news, Director Michael J. Burdiek acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $3.61 per share, with a total value of $36,100.00. Following the completion of the transaction, the director now directly owns 571,595 shares of the company’s stock, valued at $2,063,457.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 13.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in DocGo during the 3rd quarter valued at approximately $29,000. Royal Bank of Canada increased its position in shares of DocGo by 226.3% during the 1st quarter. Royal Bank of Canada now owns 3,263 shares of the company’s stock valued at $30,000 after purchasing an additional 2,263 shares during the last quarter. AJOVista LLC bought a new position in shares of DocGo during the 4th quarter valued at approximately $25,000. Tower Research Capital LLC TRC increased its position in shares of DocGo by 145.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,908 shares of the company’s stock valued at $31,000 after purchasing an additional 3,502 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of DocGo by 320.1% during the 4th quarter. Wells Fargo & Company MN now owns 6,192 shares of the company’s stock valued at $44,000 after purchasing an additional 4,718 shares during the last quarter. Institutional investors own 56.44% of the company’s stock.

DocGo Stock Performance

Shares of DocGo stock traded down $0.01 during midday trading on Wednesday, reaching $3.25. 69,686 shares of the company’s stock traded hands, compared to its average volume of 1,558,893. The company has a market cap of $338.55 million, a PE ratio of 46.57, a price-to-earnings-growth ratio of 0.33 and a beta of 0.91. The stock has a 50 day moving average of $3.73 and a 200-day moving average of $4.67. DocGo has a 12 month low of $2.78 and a 12 month high of $10.82.

DocGo (NASDAQ:DCGO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $195.48 million. On average, equities analysts anticipate that DocGo will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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