DocGo (NASDAQ:DCGO) Shares Down 6.3% – Here’s What Happened

Shares of DocGo Inc. (NASDAQ:DCGO) dropped 6.3% on Monday . The stock traded as low as $0.7161 and last traded at $0.7286. Approximately 444,957 shares traded hands during trading, a decline of 48% from the average daily volume of 862,539 shares. The stock had previously closed at $0.7777.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DocGo in a research note on Monday, December 29th. Zacks Research upgraded shares of DocGo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Canaccord Genuity Group decreased their price objective on shares of DocGo from $1.60 to $1.50 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.21.

DocGo Price Performance

The firm has a market cap of $71.26 million, a PE ratio of -1.40 and a beta of 0.95. The stock’s fifty day moving average price is $0.88 and its 200-day moving average price is $1.17.

DocGo (NASDAQ:DCGO) last issued its earnings results on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). DocGo had a negative return on equity of 9.11% and a negative net margin of 14.02%.The company had revenue of $70.81 million during the quarter, compared to analyst estimates of $69.96 million. On average, sell-side analysts anticipate that DocGo Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DCGO. AQR Capital Management LLC lifted its position in DocGo by 219.1% during the 1st quarter. AQR Capital Management LLC now owns 476,645 shares of the company’s stock worth $1,258,000 after acquiring an additional 327,269 shares during the period. Jane Street Group LLC grew its holdings in DocGo by 18.8% during the first quarter. Jane Street Group LLC now owns 85,442 shares of the company’s stock worth $226,000 after acquiring an additional 13,505 shares during the period. Acadian Asset Management LLC purchased a new position in DocGo in the first quarter worth $338,000. Strs Ohio acquired a new stake in DocGo in the first quarter valued at $76,000. Finally, CWM LLC boosted its position in shares of DocGo by 2,613.3% during the 2nd quarter. CWM LLC now owns 21,978 shares of the company’s stock worth $35,000 after purchasing an additional 21,168 shares in the last quarter. Institutional investors and hedge funds own 56.44% of the company’s stock.

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.