DocGo Inc. (NASDAQ:DCGO) Short Interest Down 46.5% in June

Key Points

• DocGo’s short interest fell sharply in June, dropping 46.5% to 2.44 million shares by June 30 from 4.56 million shares two weeks earlier. That leaves about 2.6% of the float sold short.
• Wall Street sentiment is mixed but leaning neutral, with analysts showing three Buy ratings, two Holds and one Sell. MarketBeat’s consensus rating for DocGo is currently Hold, with a target price of $2.38.
• The company continues to struggle financially, after reporting a first-quarter EPS loss of $0.12 versus expectations for a $0.02 loss, even though revenue topped estimates at $75.55 million. DocGo also had a negative net margin and return on equity, and analysts expect a full-year EPS loss of $0.12.

DocGo Inc. (NASDAQ:DCGO - Get Free Report) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 2,443,479 shares, a drop of 46.5% from the June 15th total of 4,563,237 shares. Based on an average daily trading volume, of 2,010,661 shares, the short-interest ratio is currently 1.2 days. Currently, 2.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

DCGO has been the topic of a number of research reports. Wall Street Zen raised shares of DocGo from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Cantor Fitzgerald reissued an "overweight" rating on shares of DocGo in a report on Monday, May 11th. Stifel Nicolaus reduced their price objective on DocGo from $4.00 to $2.50 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Weiss Ratings restated a "sell (e+)" rating on shares of DocGo in a research report on Thursday, June 18th. Finally, Canaccord Genuity Group lowered their target price on DocGo from $1.50 to $1.00 and set a "hold" rating for the company in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, DocGo presently has an average rating of "Hold" and a consensus target price of $2.38.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in DocGo by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 2,259,901 shares of the company's stock worth $1,984,000 after buying an additional 73,900 shares during the period. State Street Corp increased its stake in shares of 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 buying an additional 39,125 shares during the period. Renaissance Technologies LLC raised its position in shares of DocGo by 167.1% during the first quarter. Renaissance Technologies LLC now owns 1,510,361 shares of the company's stock worth $950,000 after acquiring an additional 944,826 shares during the last quarter. Isthmus Partners LLC raised its position in shares of DocGo by 14.0% during the first quarter. Isthmus Partners LLC now owns 1,013,056 shares of the company's stock worth $637,000 after acquiring an additional 124,211 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of DocGo by 205.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 805,427 shares of the company's stock worth $707,000 after acquiring an additional 541,670 shares during the period. 56.44% of the stock is owned by institutional investors.

DocGo Price Performance

NASDAQ:DCGO opened at $0.64 on Wednesday. DocGo has a one year low of $0.45 and a one year high of $1.78. The company has a market cap of $63.67 million, a PE ratio of -0.34 and a beta of 1.02. The firm's 50 day simple moving average is $0.58 and its 200 day simple moving average is $0.68.

DocGo (NASDAQ:DCGO - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.10). The business had revenue of $75.55 million during the quarter, compared to analyst estimates of $72.48 million. DocGo had a negative net margin of 62.23% and a negative return on equity of 44.09%. Equities research analysts expect that DocGo will post -0.12 EPS for the current year.

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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