DocGo Inc. (NASDAQ:DCGO) Sees Large Decrease in Short Interest

DocGo Inc. (NASDAQ:DCGO) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 6,540,000 shares, a decline of 15.2% from the February 28th total of 7,710,000 shares. Based on an average daily trading volume, of 818,200 shares, the days-to-cover ratio is currently 8.0 days. Currently, 7.5% of the company’s stock are sold short.

Hedge Funds Weigh In On DocGo

Several hedge funds and other institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. lifted its position in DocGo by 38.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company’s stock valued at $45,000 after purchasing an additional 2,968 shares during the last quarter. Centiva Capital LP bought a new position in DocGo in the 3rd quarter worth approximately $43,000. Prudential Financial Inc. bought a new stake in DocGo during the 4th quarter valued at $55,000. Royce & Associates LP acquired a new position in DocGo during the 4th quarter worth $64,000. Finally, Intech Investment Management LLC bought a new position in shares of DocGo in the third quarter worth $62,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

DocGo Price Performance

Shares of DCGO opened at $2.64 on Tuesday. DocGo has a 12 month low of $2.51 and a 12 month high of $5.68. The stock has a fifty day moving average price of $4.00 and a 200 day moving average price of $3.91. The company has a market cap of $269.24 million, a P/E ratio of 9.43, a PEG ratio of 14.16 and a beta of 1.08.

Wall Street Analyst Weigh In

DCGO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded DocGo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $5.00 to $2.85 in a report on Friday, February 28th. Needham & Company LLC reduced their price objective on DocGo from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Stifel Nicolaus lowered their target price on shares of DocGo from $6.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.89.

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.