Traders Buy High Volume of Put Options on DocGo (NASDAQ:DCGO)

DocGo Inc. (NASDAQ:DCGO) was the target of unusually large options trading on Thursday. Traders bought 7,426 put options on the company. This represents an increase of 1,020% compared to the typical daily volume of 663 put options.

DocGo Stock Up 1.8 %

Shares of DocGo stock opened at $3.42 on Friday. The stock has a market capitalization of $356.26 million, a P/E ratio of 48.86, a price-to-earnings-growth ratio of 0.33 and a beta of 0.91. The company has a 50-day simple moving average of $3.73 and a 200 day simple moving average of $4.65. DocGo has a 12-month low of $2.78 and a 12-month high of $10.82.

DocGo (NASDAQ:DCGO) last announced its earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $199.25 million for the quarter, compared to analyst estimates of $195.48 million. DocGo had a return on equity of 2.01% and a net margin of 1.10%. On average, equities analysts anticipate that DocGo will post 0.35 earnings per share for the current year.

Insider Transactions at DocGo

In other DocGo news, Director Michael J. Burdiek acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $3.61 per share, for a total transaction of $36,100.00. Following the completion of the purchase, the director now owns 571,595 shares of the company’s stock, valued at approximately $2,063,457.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DocGo

A number of hedge funds have recently made changes to their positions in DCGO. Pasadena Private Wealth LLC increased its position in DocGo by 363.6% in the 1st quarter. Pasadena Private Wealth LLC now owns 395,487 shares of the company’s stock valued at $1,598,000 after acquiring an additional 310,180 shares in the last quarter. Vanguard Group Inc. increased its position in DocGo by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,804,845 shares of the company’s stock valued at $26,859,000 after acquiring an additional 132,263 shares in the last quarter. Wolverine Trading LLC increased its position in DocGo by 502.7% in the 4th quarter. Wolverine Trading LLC now owns 10,369 shares of the company’s stock valued at $58,000 after acquiring an additional 12,944 shares in the last quarter. Nuveen Asset Management LLC increased its position in DocGo by 23.8% in the 4th quarter. Nuveen Asset Management LLC now owns 505,877 shares of the company’s stock valued at $2,828,000 after acquiring an additional 97,189 shares in the last quarter. Finally, Birchview Capital LP increased its position in DocGo by 15.4% in the 4th quarter. Birchview Capital LP now owns 150,000 shares of the company’s stock valued at $838,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 56.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DCGO shares. Canaccord Genuity Group decreased their target price on DocGo from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Cantor Fitzgerald lowered their price objective on DocGo from $13.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC dropped their target price on DocGo from $14.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, February 29th. BTIG Research decreased their price target on DocGo from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, Stifel Nicolaus dropped their price objective on DocGo from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.83.

About DocGo

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.