DocGo (NASDAQ:DCGO) Sets New 12-Month High - Here's Why

DocGo Inc. (NASDAQ:DCGO - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $4.91 and last traded at $4.94, with a volume of 432578 shares traded. The stock had previously closed at $4.48.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a "buy" rating and set a $7.00 target price on shares of DocGo in a research note on Thursday, January 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $6.10.

DocGo Trading Up 10.3 %

The stock has a 50-day moving average of $4.26 and a 200-day moving average of $3.75. The firm has a market cap of $504.13 million, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 12.36 and a beta of 0.97.

DocGo (NASDAQ:DCGO - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $138.68 million during the quarter, compared to analysts' expectations of $139.59 million. DocGo had a net margin of 4.35% and a return on equity of 8.90%. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, research analysts expect that DocGo Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at DocGo

In other news, General Counsel Ely D. Tendler sold 23,088 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.44, for a total value of $102,510.72. Following the completion of the transaction, the general counsel now directly owns 175,645 shares in the company, valued at $779,863.80. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Centiva Capital LP acquired a new position in shares of DocGo in the 3rd quarter valued at about $43,000. Intech Investment Management LLC acquired a new stake in DocGo in the 3rd quarter valued at approximately $62,000. SG Americas Securities LLC lifted its holdings in shares of DocGo by 97.5% during the 3rd quarter. SG Americas Securities LLC now owns 38,147 shares of the company's stock worth $127,000 after acquiring an additional 18,835 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of DocGo by 31.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,401 shares of the company's stock valued at $125,000 after acquiring an additional 9,696 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in DocGo by 100.3% in the third quarter. Victory Capital Management Inc. now owns 51,349 shares of the company's stock valued at $170,000 after acquiring an additional 25,714 shares during the period. Institutional investors own 56.44% of the company's stock.

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.