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

Shares of DocGo Inc. (NASDAQ:DCGOGet 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

(Get Rating)

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.

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