Short Interest in DocGo Inc. (NASDAQ:DCGO) Increases By 16.5%

DocGo Inc. (NASDAQ:DCGO) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 6,400,268 shares, a growth of 16.5% from the March 31st total of 5,492,962 shares. Currently, 6.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,482,587 shares, the days-to-cover ratio is presently 4.3 days.

Hedge Funds Weigh In On DocGo

A number of large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC acquired a new stake in shares of DocGo in the fourth quarter valued at approximately $29,000. Cerity Partners LLC acquired a new position in DocGo during the 2nd quarter worth $37,000. Public Employees Retirement System of Ohio acquired a new position in DocGo during the 4th quarter worth $40,000. Engineers Gate Manager LP bought a new position in DocGo in the 2nd quarter valued at $52,000. Finally, Royce & Associates LP bought a new position in DocGo in the 3rd quarter valued at $64,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DCGO shares. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of DocGo in a research note on Tuesday, March 17th. Cantor Fitzgerald restated an “overweight” rating and set a $3.00 price target on shares of DocGo in a research report on Tuesday, March 17th. Canaccord Genuity Group dropped their price target on DocGo from $1.50 to $1.00 and set a “hold” rating for the company in a report on Wednesday, March 25th. Finally, Stifel Nicolaus cut their price objective on DocGo from $4.00 to $2.50 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.38.

DocGo Stock Down 4.4%

NASDAQ DCGO traded down $0.03 on Friday, hitting $0.67. 655,858 shares of the company were exchanged, compared to its average volume of 1,047,427. DocGo has a 1-year low of $0.49 and a 1-year high of $2.45. The firm has a 50 day moving average of $0.65 and a two-hundred day moving average of $0.85.

About DocGo

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.