DocGo (NASDAQ:DCGO) Hits New 52-Week High – Here’s Why

DocGo Inc. (NASDAQ:DCGO) hit a new 52-week high during trading on Friday . The stock traded as high as $5.12 and last traded at $5.07, with a volume of 474908 shares traded. The stock had previously closed at $4.85.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of DocGo in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $6.10.

DocGo Stock Performance

The company’s fifty day moving average price is $4.32 and its two-hundred day moving average price is $3.79. The firm has a market capitalization of $502.60 million, a PE ratio of 17.59, a price-to-earnings-growth ratio of 13.51 and a beta of 0.97.

DocGo (NASDAQ:DCGO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. DocGo had a net margin of 4.35% and a return on equity of 8.90%. The company had revenue of $138.68 million during the quarter, compared to analysts’ expectations of $139.59 million. During the same period in the previous year, the company earned $0.05 EPS. On average, equities analysts expect that DocGo Inc. will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In other DocGo news, General Counsel Ely D. Tendler sold 23,088 shares of the firm’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 sale, the general counsel now owns 175,645 shares in the company, valued at $779,863.80. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DocGo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Centiva Capital LP bought a new position in shares of DocGo in the 3rd quarter worth about $43,000. Intech Investment Management LLC bought a new position in shares of DocGo during the third quarter valued at approximately $62,000. SG Americas Securities LLC raised its position 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 purchasing an additional 18,835 shares during the period. The Manufacturers Life Insurance Company raised 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 worth $125,000 after purchasing an additional 9,696 shares during the period. Finally, Victory Capital Management Inc. boosted its position in DocGo by 100.3% during the 3rd quarter. Victory Capital Management Inc. now owns 51,349 shares of the company’s stock valued at $170,000 after purchasing an additional 25,714 shares during the period. 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.