Deutsche Bank Aktiengesellschaft Downgrades DocGo (NASDAQ:DCGO) to Hold

DocGo (NASDAQ:DCGO - Get Free Report) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a report issued on Friday, MarketBeat reports. They currently have a $2.85 target price on the stock, down from their prior target price of $5.00. Deutsche Bank Aktiengesellschaft's target price points to a potential downside of 3.72% from the company's current price.

Separately, Needham & Company LLC decreased their target price on shares of DocGo from $7.00 to $4.00 and set a "buy" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.89.

DocGo Stock Performance

DCGO traded down $0.03 on Friday, hitting $2.96. 1,875,036 shares of the company were exchanged, compared to its average volume of 757,345. The firm has a fifty day simple moving average of $4.56 and a two-hundred day simple moving average of $4.02. The stock has a market capitalization of $302.07 million, a PE ratio of 10.57, a price-to-earnings-growth ratio of 14.16 and a beta of 1.00. DocGo has a 12 month low of $2.75 and a 12 month high of $5.68.

Insiders Place Their Bets

In related news, General Counsel Ely D. Tendler sold 23,088 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.44, for a total transaction of $102,510.72. Following the completion of the transaction, the general counsel now owns 175,645 shares in the company, valued at $779,863.80. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of DocGo by 151.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 109,855 shares of the company's stock valued at $365,000 after purchasing an additional 66,097 shares in the last quarter. Matrix Asset Advisors Inc. NY purchased a new stake in DocGo in the fourth quarter worth about $424,000. Harbor Capital Advisors Inc. boosted its position in DocGo by 144.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 968,537 shares of the company's stock valued at $3,216,000 after acquiring an additional 572,522 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of DocGo by 64.2% during the 4th quarter. WCM Investment Management LLC now owns 4,314,071 shares of the company's stock worth $18,637,000 after acquiring an additional 1,687,100 shares during the period. Finally, Barclays PLC raised its position in shares of DocGo by 279.7% in the 3rd quarter. Barclays PLC now owns 134,923 shares of the company's stock worth $447,000 after acquiring an additional 99,387 shares in the last quarter. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.