DocGo Inc. (NASDAQ:DCGO) Short Interest Up 5.9% in March

DocGo Inc. (NASDAQ:DCGO) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 10,490,000 shares, an increase of 5.9% from the March 15th total of 9,910,000 shares. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is currently 6.6 days. Currently, 12.1% of the shares of the stock are sold short.

Insider Transactions at DocGo

In related news, Director Michael J. Burdiek purchased 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $3.61 per share, with a total value of $36,100.00. Following the purchase, the director now directly owns 571,595 shares in the company, valued at approximately $2,063,457.95. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted 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 acquiring an additional 174,087 shares during the period. Vanguard Group Inc. lifted its holdings in shares of DocGo by 1.4% during the 1st 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 period. Ergoteles LLC purchased a new position in shares of DocGo during the 1st quarter worth about $333,000. Lazard Asset Management LLC lifted its holdings in shares of DocGo by 99.3% during the 1st quarter. Lazard Asset Management LLC now owns 10,799 shares of the company’s stock worth $99,000 after acquiring an additional 5,381 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of DocGo by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 380,127 shares of the company’s stock worth $3,517,000 after acquiring an additional 9,397 shares during the period. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

DocGo Price Performance

NASDAQ:DCGO traded down $0.01 on Wednesday, reaching $3.25. The stock had a trading volume of 69,686 shares, compared to its average volume of 1,558,893. The company has a market cap of $338.55 million, a price-to-earnings ratio of 46.57, a P/E/G ratio of 0.33 and a beta of 0.91. The firm’s fifty day moving average is $3.73 and its two-hundred day moving average is $4.67. DocGo has a 12-month low of $2.78 and a 12-month high of $10.82.

DocGo (NASDAQ:DCGO) last released its earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $199.25 million during the quarter, compared to analysts’ expectations of $195.48 million. DocGo had a net margin of 1.10% and a return on equity of 2.01%. As a group, research analysts forecast that DocGo will post 0.35 earnings per share for the current fiscal 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.