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

DocGo Inc. (NASDAQ:DCGO) saw unusually large options trading on Thursday. Stock traders purchased 7,426 put options on the stock. This is an increase of 1,020% compared to the average volume of 663 put options.

Insider Transactions at DocGo

In related 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 acquired at an average price of $3.61 per share, with a total value of $36,100.00. Following the completion of the purchase, the director now directly owns 571,595 shares in the company, valued at $2,063,457.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocGo

Several large investors have recently modified their holdings of DCGO. Deerfield Management Company L.P. Series C lifted its holdings in DocGo by 55.7% in the third quarter. Deerfield Management Company L.P. Series C now owns 4,764,000 shares of the company’s stock valued at $25,392,000 after buying an additional 1,705,000 shares during the period. State Street Corp increased its holdings in DocGo by 352.2% in the second quarter. State Street Corp now owns 1,660,004 shares of the company’s stock worth $11,852,000 after purchasing an additional 1,292,941 shares in the last quarter. Sectoral Asset Management Inc. acquired a new position in DocGo in the third quarter valued at approximately $3,472,000. Northern Trust Corp lifted its stake in DocGo by 425.3% in the second quarter. Northern Trust Corp now owns 698,573 shares of the company’s stock valued at $4,989,000 after buying an additional 565,582 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of DocGo by 6.6% during the 2nd quarter. BlackRock Inc. now owns 6,029,276 shares of the company’s stock worth $56,494,000 after buying an additional 373,332 shares in the last quarter. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

DocGo Stock Up 3.3 %

DCGO traded up $0.11 during midday trading on Thursday, hitting $3.47. 179,132 shares of the company were exchanged, compared to its average volume of 1,548,007. The firm’s 50 day moving average price is $3.73 and its 200-day moving average price is $4.66. DocGo has a 1-year low of $2.78 and a 1-year high of $10.82. The firm has a market capitalization of $361.47 million, a P/E ratio of 48.00, a P/E/G ratio of 0.33 and a beta of 0.91.

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