DocGo Inc. (NASDAQ:DCGO) Sees Large Growth in Short Interest

DocGo Inc. (NASDAQ:DCGO) was the recipient of a large growth in short interest in 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. Approximately 12.1% of the shares of the stock are sold short. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is currently 6.6 days.

Insider Activity at DocGo

In other news, Director Michael J. Burdiek bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $3.61 per share, for a total transaction of $36,100.00. Following the completion of the transaction, the director now owns 571,595 shares in the company, valued at $2,063,457.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DocGo

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of DocGo by 17.7% during the 1st quarter. BlackRock Inc. now owns 1,156,560 shares of the company’s stock worth $10,699,000 after buying an additional 174,087 shares during the last quarter. Vanguard Group Inc. increased its stake in DocGo by 1.4% during the first quarter. Vanguard Group Inc. now owns 1,049,027 shares of the company’s stock worth $9,704,000 after acquiring an additional 14,704 shares during the last quarter. Ergoteles LLC purchased a new position in shares of DocGo in the 1st quarter worth about $333,000. Lazard Asset Management LLC lifted its stake in shares of DocGo by 99.3% in the 1st quarter. Lazard Asset Management LLC now owns 10,799 shares of the company’s stock valued at $99,000 after purchasing an additional 5,381 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of DocGo by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 380,127 shares of the company’s stock worth $3,517,000 after purchasing an additional 9,397 shares in the last quarter. Institutional investors and hedge funds own 56.44% of the company’s stock.

Analysts Set New Price Targets

DCGO has been the subject of a number of recent research reports. Cantor Fitzgerald dropped their price objective on shares of DocGo from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Stifel Nicolaus dropped their price target on DocGo from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Canaccord Genuity Group decreased their price objective on 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 note on Wednesday, April 10th. Finally, Needham & Company LLC decreased their price target on shares of DocGo from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, DocGo has a consensus rating of “Buy” and a consensus price target of $10.83.

DocGo Trading Up 3.1 %

NASDAQ DCGO opened at $3.36 on Thursday. The business’s 50-day moving average price is $3.73 and its 200 day moving average price is $4.66. DocGo has a twelve month low of $2.78 and a twelve month high of $10.82. The company has a market capitalization of $350.01 million, a PE ratio of 48.00, a price-to-earnings-growth ratio of 0.33 and a beta of 0.91.

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

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.