DocGo Inc. (NASDAQ:DCGO) Sees Significant Drop in Short Interest

DocGo Inc. (NASDAQ:DCGO) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 2,443,479 shares, a decline of 46.5% from the June 15th total of 4,563,237 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily volume of 2,010,661 shares, the short-interest ratio is currently 1.2 days.

DocGo Stock Performance

Shares of DCGO opened at $0.64 on Wednesday. The firm has a market cap of $63.67 million, a PE ratio of -0.34 and a beta of 1.02. DocGo has a 52-week low of $0.45 and a 52-week high of $1.78. The business’s 50 day moving average price is $0.58 and its two-hundred day moving average price is $0.68.

DocGo (NASDAQ:DCGO) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.10). The company had revenue of $75.55 million for the quarter, compared to analyst estimates of $72.48 million. DocGo had a negative return on equity of 44.09% and a negative net margin of 62.23%. Research analysts predict that DocGo will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On DocGo

Large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC bought a new stake in DocGo in the fourth quarter valued at $29,000. Cerity Partners LLC bought a new position in shares of DocGo during the 2nd quarter worth about $37,000. Public Employees Retirement System of Ohio bought a new position in shares of DocGo during the 4th quarter worth about $40,000. Engineers Gate Manager LP acquired a new stake in shares of DocGo in the 2nd quarter valued at about $52,000. Finally, Jain Global LLC acquired a new stake in shares of DocGo in the 4th quarter valued at about $70,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DCGO shares. Canaccord Genuity Group reduced their price objective on shares of DocGo from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen upgraded shares of DocGo from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Stifel Nicolaus cut their price target on shares of DocGo from $4.00 to $2.50 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of DocGo in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of DocGo in a research report on Thursday, June 18th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, DocGo has a consensus rating of “Hold” and a consensus target price of $2.38.

DocGo Company Profile

DocGo, Inc is a U.S.-based integrated healthcare company that delivers on-demand and mobile healthcare services. The company’s business model centers on deploying customized medical clinics paired with a digital care platform to bring primary and acute care directly to patients. Through a combination of telemedicine and over-the-road medical units, DocGo addresses routine medical exams, chronic disease management, occupational health screenings, specialist consultations and urgent care interventions.

In addition to its mobile clinic fleet, DocGo’s digital platform offers 24/7 virtual care, facilitating remote consultations via video, phone or secure messaging.