DocGo Inc. (NASDAQ:DCGO) Sees Significant Increase in Short Interest

Key Points

• Short interest jumped 16.5% to 6,400,268 shares as of April 15 (about 6.7% of shares outstanding), leaving a short-interest ratio of roughly 4.3 days based on average daily volume.
• Institutional activity has been notable, with firms like Goldman Sachs (+205%) and Millennium Management (+878.6%) materially increasing stakes, and institutional/hedge fund ownership now around 56.44%.
• Analyst sentiment is mixed—three Buys, three Holds and one Sell—producing a consensus rating of Hold and a consensus price target of $2.38.

DocGo Inc. (NASDAQ:DCGO - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 6,400,268 shares, a growth of 16.5% from the March 31st total of 5,492,962 shares. Approximately 6.7% of the company's shares are short sold. Based on an average daily volume of 1,482,587 shares, the short-interest ratio is presently 4.3 days.

DocGo Price Performance

DocGo stock opened at $0.71 on Thursday. DocGo has a 12 month low of $0.49 and a 12 month high of $2.45. The company has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $0.85. The company has a market cap of $69.83 million, a PE ratio of -0.38 and a beta of 0.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in DocGo by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,259,901 shares of the company's stock worth $1,984,000 after acquiring an additional 73,900 shares during the period. State Street Corp boosted its stake in DocGo by 2.0% in the fourth quarter. State Street Corp now owns 1,969,603 shares of the company's stock valued at $1,729,000 after acquiring an additional 39,125 shares during the period. Isthmus Partners LLC boosted its stake in DocGo by 13.8% in the fourth quarter. Isthmus Partners LLC now owns 888,845 shares of the company's stock valued at $780,000 after acquiring an additional 107,592 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of DocGo by 205.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 805,427 shares of the company's stock valued at $707,000 after purchasing an additional 541,670 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of DocGo by 878.6% during the third quarter. Millennium Management LLC now owns 766,210 shares of the company's stock valued at $1,042,000 after purchasing an additional 687,911 shares during the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $3.00 target price on shares of DocGo in a research report on Tuesday, March 17th. Canaccord Genuity Group reduced their price target on shares of DocGo from $1.50 to $1.00 and set a "hold" rating on the stock in a research report on Wednesday, March 25th. Stifel Nicolaus dropped their price objective on shares of DocGo from $4.00 to $2.50 and set a "buy" rating for the company in a research report on Tuesday, March 17th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $3.00 target price on shares of DocGo in a research note on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $2.38.

DocGo Company Profile

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.

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