Investors Buy Large Volume of Put Options on DocGo (NASDAQ:DCGO)

DocGo Inc. (NASDAQ:DCGO) was the target of unusually large options trading on Thursday. Stock investors purchased 7,426 put options on the company. This represents an increase of 1,020% compared to the typical daily volume of 663 put options.

Insider Buying and Selling

In related news, Director Michael J. Burdiek purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $3.61 per share, for a total transaction of $36,100.00. Following the transaction, the director now directly 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 accessible through this hyperlink. Insiders own 13.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DCGO. BlackRock Inc. raised its holdings in shares of DocGo by 6.6% in 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 in the last quarter. Vanguard Group Inc. increased its position in shares of DocGo by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,804,845 shares of the company’s stock worth $26,859,000 after purchasing an additional 132,263 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings 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 valued at $25,392,000 after purchasing an additional 1,705,000 shares during the last quarter. WCM Investment Management LLC boosted its position in DocGo by 15.6% in the fourth quarter. WCM Investment Management LLC now owns 2,582,673 shares of the company’s stock valued at $14,489,000 after buying an additional 347,984 shares in the last quarter. Finally, Emerald Advisers LLC grew its stake in DocGo by 6.4% during the third quarter. Emerald Advisers LLC now owns 2,406,714 shares of the company’s stock worth $12,828,000 after buying an additional 145,163 shares during the last quarter. 56.44% of the stock is owned by institutional investors.

DocGo Stock Performance

Shares of NASDAQ:DCGO traded up $0.11 on Thursday, hitting $3.47. 179,132 shares of the company were exchanged, compared to its average volume of 1,548,007. The company’s 50 day moving average price is $3.73 and its two-hundred day moving average price is $4.66. DocGo has a one year low of $2.78 and a one year high of $10.82. The firm has a market capitalization of $361.47 million, a price-to-earnings ratio of 48.00, a PEG ratio of 0.33 and a beta of 0.91.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Cantor Fitzgerald decreased their price target on shares of DocGo from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Stifel Nicolaus lowered their price target on DocGo from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Canaccord Genuity Group lowered their target price on shares of 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 cut their target price on shares of DocGo from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Needham & Company LLC lowered their price target on DocGo from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $10.83.

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.