DocGo (NASDAQ:DCGO) Stock Price Down 8.4% - Here's Why

DocGo Inc. (NASDAQ:DCGO - Get Free Report)'s stock price was down 8.4% on Thursday . The stock traded as low as $5.05 and last traded at $5.05. Approximately 459,140 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 551,654 shares. The stock had previously closed at $5.51.

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 report on Thursday, January 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $6.10.

DocGo Stock Down 4.8 %

The stock has a market cap of $488.82 million, a price-to-earnings ratio of 17.11, a PEG ratio of 14.16 and a beta of 1.00. The stock has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $3.99.

Insider Buying and Selling

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

Hedge Funds Weigh In On DocGo

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in DocGo by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 5,014,375 shares of the company's stock valued at $21,261,000 after buying an additional 14,454 shares during the last quarter. WCM Investment Management LLC increased its position in shares of DocGo by 64.2% during the fourth quarter. WCM Investment Management LLC now owns 4,314,071 shares of the company's stock valued at $18,637,000 after acquiring an additional 1,687,100 shares during the last quarter. Geode Capital Management LLC lifted its holdings in DocGo by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,252,516 shares of the company's stock worth $7,480,000 after acquiring an additional 39,016 shares during the period. State Street Corp lifted its holdings in DocGo by 4.9% during the third quarter. State Street Corp now owns 1,928,972 shares of the company's stock worth $6,404,000 after acquiring an additional 90,438 shares during the period. Finally, P.A.W. Capital Corp boosted its position in DocGo by 1.9% in the third quarter. P.A.W. Capital Corp now owns 1,630,000 shares of the company's stock worth $5,412,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 56.44% of the company's stock.

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.