DocGo (NASDAQ:DCGO) Shares Down 8.4% – Here’s Why

Shares of DocGo Inc. (NASDAQ:DCGO) were down 8.4% during mid-day trading on Thursday . The company traded as low as $5.05 and last traded at $5.05. Approximately 459,140 shares traded hands during 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 price target on shares of DocGo in a research report on Thursday, January 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $6.10.

DocGo Stock Performance

The stock has a market capitalization of $513.31 million, a price-to-earnings ratio of 17.96, a P/E/G ratio of 15.77 and a beta of 1.00. The company has a 50-day moving average of $4.60 and a 200-day moving average of $3.98.

Insider Buying and Selling

In related news, General Counsel Ely D. Tendler sold 23,088 shares of DocGo 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 transaction, the general counsel now directly owns 175,645 shares in the company, valued at $779,863.80. The trade was a 11.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DCGO. WCM Investment Management LLC raised its holdings in DocGo by 64.2% in the 4th 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. Harbor Capital Advisors Inc. raised its holdings in DocGo by 144.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 968,537 shares of the company’s stock valued at $3,216,000 after acquiring an additional 572,522 shares during the last quarter. American Century Companies Inc. raised its holdings in DocGo by 490.3% in the 4th quarter. American Century Companies Inc. now owns 452,254 shares of the company’s stock valued at $1,918,000 after acquiring an additional 375,637 shares during the last quarter. Northern Trust Corp raised its holdings in DocGo by 24.9% in the 4th quarter. Northern Trust Corp now owns 1,606,139 shares of the company’s stock valued at $6,810,000 after acquiring an additional 320,133 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in DocGo by 583.4% in the 4th quarter. Renaissance Technologies LLC now owns 350,600 shares of the company’s stock valued at $1,487,000 after acquiring an additional 299,300 shares during the last quarter. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.