DocGo (NASDAQ:DCGO) Shares Gap Down to $6.46

DocGo Inc. (NASDAQ:DCGO) shares gapped down before the market opened on Friday . The stock had previously closed at $6.46, but opened at $6.32. DocGo shares last traded at $6.16, with a volume of 359,630 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DCGO. Northland Securities raised their price objective on DocGo from $15.00 to $16.00 in a research note on Tuesday, August 8th. Stifel Nicolaus reissued a “buy” rating and set a $12.00 price objective on shares of DocGo in a research note on Monday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of DocGo in a research report on Thursday, September 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of DocGo in a research report on Thursday. Finally, BTIG Research initiated coverage on DocGo in a research report on Friday, August 18th. They issued a “buy” rating and a $15.00 target price for the company.

DocGo Trading Down 3.6 %

The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $8.74 and a 200 day moving average price of $8.75. The firm has a market cap of $646.61 million, a price-to-earnings ratio of 87.57 and a beta of 0.85.

DocGo (NASDAQ:DCGO) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). DocGo had a return on equity of 3.20% and a net margin of 1.27%. The firm had revenue of $125.49 million for the quarter, compared to analysts’ expectations of $119.64 million. As a group, research analysts anticipate that DocGo Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Ely D. Tendler sold 10,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $8.75, for a total transaction of $87,500.00. Following the completion of the sale, the general counsel now directly owns 23,088 shares in the company, valued at $202,020. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other DocGo news, insider Adriaan Stephanus Oberholzer sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $10.15, for a total transaction of $507,500.00. Following the transaction, the insider now directly owns 1,193,413 shares in the company, valued at $12,113,141.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Ely D. Tendler sold 10,000 shares of DocGo stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $8.75, for a total value of $87,500.00. Following the completion of the transaction, the general counsel now owns 23,088 shares in the company, valued at $202,020. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,000 shares of company stock worth $613,000. Corporate insiders own 13.78% of the company’s stock.

Institutional Investors Weigh In On DocGo

A number of institutional investors have recently added to or reduced their stakes in DCGO. Federated Hermes Inc. acquired a new stake in DocGo during the third quarter worth about $29,000. Huntington National Bank acquired a new stake in DocGo during the second quarter valued at approximately $30,000. Royal Bank of Canada boosted its holdings in 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. Wells Fargo & Company MN boosted its holdings in DocGo by 320.1% during the fourth quarter. Wells Fargo & Company MN now owns 6,192 shares of the company’s stock valued at $44,000 after purchasing an additional 4,718 shares in the last quarter. Finally, State of Wyoming acquired a new stake in DocGo during the fourth quarter valued at approximately $50,000. 52.14% of the stock is owned by institutional investors and hedge funds.

DocGo Company Profile

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.