DocGo (NASDAQ:DCGO) Shares Gap Up on Better-Than-Expected Earnings

Shares of DocGo Inc. (NASDAQ:DCGO – Get Rating) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $8.70, but opened at $9.50. DocGo shares last traded at $7.72, with a volume of 531,336 shares.

The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. DocGo had a return on equity of 16.14% and a net margin of 10.34%. The firm had revenue of $108.79 million during the quarter, compared to analyst estimates of $104.13 million. During the same period last year, the company posted $0.17 EPS.

Hedge Funds Weigh In On DocGo

Several institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in DocGo during the third quarter valued at about $28,000. Federated Hermes Inc. bought a new position in shares of DocGo during the third quarter valued at approximately $29,000. Royal Bank of Canada increased its stake in shares of DocGo by 226.3% during the first quarter. Royal Bank of Canada now owns 3,263 shares of the company’s stock valued at $30,000 after purchasing an additional 2,263 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of DocGo during the third quarter valued at approximately $39,000. Finally, Wells Fargo & Company MN boosted its holdings in DocGo by 320.1% in the fourth quarter. Wells Fargo & Company MN now owns 6,192 shares of the company’s stock worth $44,000 after purchasing an additional 4,718 shares during the last quarter. Hedge funds and other institutional investors own 36.88% of the company’s stock.

DocGo Stock Down 3.2 %

The company’s fifty day moving average is $8.95 and its 200-day moving average is $8.81. The company has a market cap of $862.29 million, a PE ratio of 19.14 and a beta of 0.97. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.01.

DocGo Company Profile

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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.