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

DocGo Inc. (NASDAQ:DCGO) was the target of a significant decline in short interest in the month of 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. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 2,010,661 shares, the short-interest ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

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

DocGo Stock Performance

Shares of NASDAQ DCGO traded down $0.00 during mid-day trading on Thursday, hitting $0.66. The stock had a trading volume of 187,723 shares, compared to its average volume of 924,549. The firm has a market cap of $65.57 million, a P/E ratio of -0.35 and a beta of 1.02. The business has a 50 day moving average price of $0.58 and a two-hundred day moving average price of $0.68. DocGo has a 1 year low of $0.45 and a 1 year high of $1.78.

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

Institutional Investors Weigh In On DocGo

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of DocGo in the fourth quarter worth $40,000. Squarepoint Ops LLC raised its holdings in shares of DocGo by 246.3% during the fourth quarter. Squarepoint Ops LLC now owns 94,511 shares of the company’s stock valued at $83,000 after purchasing an additional 67,216 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of DocGo by 44.3% in the 4th quarter. Wells Fargo & Company MN now owns 100,811 shares of the company’s stock worth $88,000 after buying an additional 30,957 shares during the last quarter. BNP Paribas Financial Markets boosted its position in DocGo by 411.3% in the third quarter. BNP Paribas Financial Markets now owns 81,482 shares of the company’s stock worth $111,000 after purchasing an additional 65,545 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in DocGo during the second quarter valued at approximately $52,000. 56.44% of the stock is currently owned by institutional investors.

DocGo Company Profile

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.