DocGo Inc. (NASDAQ:DCGO) Short Interest Down 46.5% in June

DocGo Inc. (NASDAQ:DCGO) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 2,443,479 shares, a decline of 46.5% from the June 15th total of 4,563,237 shares. Based on an average daily trading volume, of 2,010,661 shares, the short-interest ratio is presently 1.2 days. Currently, 2.6% of the company’s stock are sold short.

DocGo Stock Performance

Shares of DocGo stock traded up $0.02 during trading hours on Friday, reaching $0.65. The company’s stock had a trading volume of 206,368 shares, compared to its average volume of 924,407. The company has a market capitalization of $64.58 million, a P/E ratio of -0.34 and a beta of 1.02. The stock’s fifty day simple moving average is $0.58 and its two-hundred day simple moving average is $0.67. DocGo has a one year low of $0.45 and a one year high of $1.78.

DocGo (NASDAQ:DCGO) last posted its earnings results on Monday, May 11th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.10). DocGo had a negative return on equity of 44.09% and a negative net margin of 62.23%.The business had revenue of $75.55 million for the quarter, compared to the consensus estimate of $72.48 million. As a group, research analysts forecast that DocGo will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DCGO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of DocGo in a research note on Thursday, June 18th. Canaccord Genuity Group reduced their price objective on DocGo from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Wednesday, March 25th. Cantor Fitzgerald restated an “overweight” rating on shares of DocGo in a report on Monday, May 11th. Finally, Wall Street Zen raised DocGo from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.38.

Institutional Trading of DocGo

Several institutional investors and hedge funds have recently modified their holdings of DCGO. Neuberger Berman Group LLC bought a new position in shares of DocGo in the fourth quarter valued at approximately $29,000. Cerity Partners LLC bought a new stake in DocGo during the second quarter worth $37,000. Public Employees Retirement System of Ohio bought a new stake in DocGo during the fourth quarter worth $40,000. Engineers Gate Manager LP purchased a new stake in DocGo in the 2nd quarter valued at $52,000. Finally, Jain Global LLC purchased a new stake in DocGo in the 4th quarter valued at $70,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.