Traders Buy High Volume of Put Options on DocGo (NASDAQ:DCGO)

DocGo Inc. (NASDAQ:DCGO) saw some unusual options trading on Thursday. Investors bought 7,426 put options on the company. This is an increase of 1,020% compared to the typical volume of 663 put options.

Analyst Ratings Changes

Several research firms have recently issued reports on DCGO. Needham & Company LLC lowered their price objective on DocGo from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald decreased their price target on DocGo from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Canaccord Genuity Group reduced their price objective on DocGo from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Stifel Nicolaus decreased their target price on DocGo from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, BTIG Research decreased their target price on DocGo from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $10.83.

Insider Activity at DocGo

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DCGO. BlackRock Inc. grew its stake in DocGo by 6.6% during the 2nd quarter. BlackRock Inc. now owns 6,029,276 shares of the company’s stock valued at $56,494,000 after purchasing an additional 373,332 shares during the last quarter. Vanguard Group Inc. boosted its position in DocGo by 2.8% during the fourth 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 boosted its position in DocGo by 55.7% during the third quarter. Deerfield Management Company L.P. Series C now owns 4,764,000 shares of the company’s stock worth $25,392,000 after purchasing an additional 1,705,000 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of DocGo by 15.6% during the fourth quarter. WCM Investment Management LLC now owns 2,582,673 shares of the company’s stock valued at $14,489,000 after acquiring an additional 347,984 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of DocGo by 6.4% during the third quarter. Emerald Advisers LLC now owns 2,406,714 shares of the company’s stock valued at $12,828,000 after acquiring an additional 145,163 shares during the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

DocGo Trading Up 1.8 %

DCGO opened at $3.42 on Friday. The firm has a market cap of $356.26 million, a price-to-earnings ratio of 48.86, a PEG ratio of 0.33 and a beta of 0.91. DocGo has a 12 month low of $2.78 and a 12 month high of $10.82. The stock has a fifty day moving average price of $3.73 and a 200-day moving average price of $4.65.

DocGo (NASDAQ:DCGO) last announced its earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share (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 business had revenue of $199.25 million for the quarter, compared to analyst estimates of $195.48 million. On average, equities research analysts forecast that DocGo will post 0.35 EPS for the current year.

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.