DocGo (NASDAQ:DCGO) Stock Price Down 6.3% – Here’s Why

DocGo Inc. (NASDAQ:DCGO) shares traded down 6.3% during mid-day trading on Monday . The company traded as low as $0.7161 and last traded at $0.7286. 444,957 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 862,539 shares. The stock had previously closed at $0.7777.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DCGO shares. Canaccord Genuity Group lowered their target price on shares of DocGo from $1.60 to $1.50 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Zacks Research raised DocGo from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DocGo in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.21.

DocGo Price Performance

The company has a market cap of $71.26 million, a PE ratio of -1.40 and a beta of 0.95. The firm has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $1.17.

DocGo (NASDAQ:DCGO) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). DocGo had a negative net margin of 14.02% and a negative return on equity of 9.11%. The company had revenue of $70.81 million for the quarter, compared to analyst estimates of $69.96 million. Equities research analysts forecast that DocGo Inc. will post 0.25 EPS for the current year.

Institutional Trading of DocGo

A number of hedge funds have recently bought and sold shares of DCGO. P.A.W. Capital Corp lifted its stake in shares of DocGo by 60.0% during the 2nd quarter. P.A.W. Capital Corp now owns 3,200,000 shares of the company’s stock worth $5,024,000 after purchasing an additional 1,200,000 shares during the period. S Squared Technology LLC increased its stake in DocGo by 52.2% in the second quarter. S Squared Technology LLC now owns 2,878,286 shares of the company’s stock valued at $4,519,000 after purchasing an additional 987,310 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in DocGo by 5.7% during the second quarter. Jefferies Financial Group Inc. now owns 2,144,456 shares of the company’s stock worth $3,367,000 after buying an additional 115,000 shares during the period. CWM LLC boosted its stake in DocGo by 2,613.3% in the 2nd quarter. CWM LLC now owns 21,978 shares of the company’s stock worth $35,000 after buying an additional 21,168 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in DocGo by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 547,346 shares of the company’s stock worth $744,000 after buying an additional 40,644 shares during the last quarter. Institutional investors and hedge funds own 56.44% of the company’s stock.

About DocGo

DocGo, Inc is a U.S.-based integrated healthcare company that delivers on-demand and mobile healthcare services. The company’s business model centers on deploying customized medical clinics paired with a digital care platform to bring primary and acute care directly to patients. Through a combination of telemedicine and over-the-road medical units, DocGo addresses routine medical exams, chronic disease management, occupational health screenings, specialist consultations and urgent care interventions.

In addition to its mobile clinic fleet, DocGo’s digital platform offers 24/7 virtual care, facilitating remote consultations via video, phone or secure messaging.