Short Interest in DocGo Inc. (NASDAQ:DCGO) Increases By 17.5%

DocGo Inc. (NASDAQ:DCGO - Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 7,710,000 shares, an increase of 17.5% from the February 13th total of 6,560,000 shares. Approximately 8.8% of the shares of the company are sold short. Based on an average daily volume of 759,000 shares, the days-to-cover ratio is currently 10.2 days.

DocGo Stock Down 3.3 %

Shares of DCGO stock traded down $0.09 during trading hours on Friday, reaching $2.67. 1,439,033 shares of the company's stock were exchanged, compared to its average volume of 741,894. DocGo has a fifty-two week low of $2.63 and a fifty-two week high of $5.68. The stock has a market capitalization of $272.29 million, a P/E ratio of 9.54, a P/E/G ratio of 14.16 and a beta of 1.08. The business has a fifty day moving average price of $4.17 and a 200-day moving average price of $3.95.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Summit Investment Advisors Inc. grew its position in DocGo by 38.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company's stock valued at $45,000 after acquiring an additional 2,968 shares during the period. Centiva Capital LP bought a new stake in shares of DocGo during the third quarter worth $43,000. Prudential Financial Inc. bought a new stake in shares of DocGo during the fourth quarter worth $55,000. Royce & Associates LP bought a new stake in shares of DocGo during the fourth quarter worth $64,000. Finally, Intech Investment Management LLC bought a new stake in shares of DocGo during the third quarter worth $62,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

DCGO has been the subject of several analyst reports. Needham & Company LLC reduced their target price on DocGo from $7.00 to $4.00 and set a "buy" rating for the company in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft lowered DocGo from a "buy" rating to a "hold" rating and reduced their target price for the stock from $5.00 to $2.85 in a report on Friday, February 28th. Finally, Stifel Nicolaus reduced their target price on DocGo from $6.50 to $5.50 and set a "buy" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, DocGo has a consensus rating of "Moderate Buy" and a consensus price target of $4.89.

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.