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

DocGo Inc. (NASDAQ:DCGO) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 7,710,000 shares, a growth of 17.5% from the February 13th total of 6,560,000 shares. Currently, 8.8% of the shares of the stock 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 Performance

NASDAQ DCGO traded down $0.02 on Wednesday, reaching $2.83. The company had a trading volume of 457,765 shares, compared to its average volume of 744,331. The firm has a market capitalization of $288.10 million, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 14.16 and a beta of 1.08. DocGo has a 1-year low of $2.75 and a 1-year high of $5.68. The company’s fifty day moving average is $4.26 and its 200-day moving average is $3.97.

Analyst Upgrades and Downgrades

DCGO has been the topic of a number of recent research reports. Needham & Company LLC decreased their price objective on DocGo from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus cut their target price on shares of DocGo from $6.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft cut shares of DocGo from a “buy” rating to a “hold” rating and cut their target price for the company from $5.00 to $2.85 in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, DocGo has an average rating of “Moderate Buy” and an average price target of $4.89.

Hedge Funds Weigh In On DocGo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new position in DocGo in the 4th quarter worth $123,000. Mackenzie Financial Corp acquired a new position in DocGo in the 4th quarter worth $579,000. Squarepoint Ops LLC boosted its stake in DocGo by 65.5% in the 4th quarter. Squarepoint Ops LLC now owns 66,260 shares of the company’s stock worth $281,000 after purchasing an additional 26,221 shares during the period. State of Wyoming boosted its stake in DocGo by 55.1% in the 4th quarter. State of Wyoming now owns 159,033 shares of the company’s stock worth $674,000 after purchasing an additional 56,500 shares during the period. Finally, ProShare Advisors LLC lifted its position in DocGo by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 28,641 shares of the company’s stock worth $121,000 after buying an additional 9,425 shares in the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

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.