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

DocGo Inc. (NASDAQ:DCGO) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 7,850,000 shares, a decrease of 8.3% from the July 15th total of 8,560,000 shares. Based on an average trading volume of 941,400 shares, the short-interest ratio is presently 8.3 days. Approximately 9.2% of the shares of the company are short sold.

Institutional Trading of DocGo

Several institutional investors and hedge funds have recently added to or reduced their stakes in DCGO. Deerfield Management Company L.P. Series C grew its stake in shares of DocGo by 41.0% in the second quarter. Deerfield Management Company L.P. Series C now owns 7,195,956 shares of the company’s stock valued at $22,236,000 after acquiring an additional 2,091,569 shares in the last quarter. Isthmus Partners LLC increased its stake in shares of DocGo by 166.7% in the 1st quarter. Isthmus Partners LLC now owns 603,868 shares of the company’s stock valued at $2,440,000 after purchasing an additional 377,462 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of DocGo by 212.4% in the second quarter. Marshall Wace LLP now owns 505,514 shares of the company’s stock worth $1,562,000 after acquiring an additional 343,692 shares during the last quarter. Pasadena Private Wealth LLC boosted its holdings in shares of DocGo by 363.6% during the 1st quarter. Pasadena Private Wealth LLC now owns 395,487 shares of the company’s stock valued at $1,598,000 after acquiring an additional 310,180 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in DocGo by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 396,015 shares of the company’s stock worth $1,224,000 after acquiring an additional 289,964 shares during the last quarter. 56.44% of the stock is owned by institutional investors.

DocGo Stock Performance

DocGo stock traded up $0.02 during midday trading on Monday, reaching $3.52. The stock had a trading volume of 621,266 shares, compared to its average volume of 1,208,244. The stock has a market capitalization of $357.51 million, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. DocGo has a 1-year low of $2.75 and a 1-year high of $9.11. The firm’s fifty day simple moving average is $3.21 and its 200-day simple moving average is $3.41.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of DocGo from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Canaccord Genuity Group cut their target price on DocGo from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Cantor Fitzgerald lowered their price target on DocGo from $11.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $7.00 price objective on shares of DocGo in a report on Thursday, August 8th. Finally, BTIG Research dropped their target price on shares of DocGo from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.10.

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.