Jefferies Financial Group Inc. Acquires 2,000,356 Shares of DocGo Inc. (NASDAQ:DCGO)

Key Points

• Jefferies Financial Group Inc. significantly increased its stake in DocGo Inc. by 6,874.1%, acquiring 2,000,356 shares to total 2,029,456 shares, valued at approximately $5.36 million.
• Wall Street analysts have reduced price targets for DocGo, with a consensus rating of "Moderate Buy" and a new price target averaging $3.56.
• DocGo's stock is currently trading at $1.33, with a market capitalization of $135.64 million and reported a net loss of $0.09 earnings per share last quarter.

Jefferies Financial Group Inc. raised its holdings in shares of DocGo Inc. (NASDAQ:DCGO - Free Report) by 6,874.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,029,456 shares of the company's stock after acquiring an additional 2,000,356 shares during the period. Jefferies Financial Group Inc. owned approximately 1.99% of DocGo worth $5,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of DocGo by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,014,375 shares of the company's stock valued at $21,261,000 after acquiring an additional 14,454 shares during the last quarter. P.A.W. Capital Corp increased its position in shares of DocGo by 25.0% in the 1st quarter. P.A.W. Capital Corp now owns 2,000,000 shares of the company's stock valued at $5,280,000 after buying an additional 400,000 shares in the last quarter. Northern Trust Corp increased its position in shares of 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 buying an additional 320,133 shares in the last quarter. Franklin Resources Inc. increased its position in shares of DocGo by 14.3% in the 4th quarter. Franklin Resources Inc. now owns 1,370,819 shares of the company's stock valued at $5,812,000 after buying an additional 171,733 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of DocGo by 2.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,368,468 shares of the company's stock valued at $3,613,000 after buying an additional 36,540 shares in the last quarter. Institutional investors own 56.44% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DCGO. Needham & Company LLC reduced their target price on shares of DocGo from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Friday, May 9th. BTIG Research lowered shares of DocGo from a "buy" rating to a "neutral" rating in a research note on Friday, May 9th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $1.45 price objective (down from $5.00) on shares of DocGo in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $3.56.

DocGo Stock Up 1.1%

Shares of DCGO stock traded up $0.02 on Wednesday, reaching $1.42. The stock had a trading volume of 280,409 shares, compared to its average volume of 870,934. The firm's 50-day moving average is $1.50 and its two-hundred day moving average is $2.56. The firm has a market capitalization of $144.30 million, a price-to-earnings ratio of -70.75 and a beta of 0.96. DocGo Inc. has a 12 month low of $1.23 and a 12 month high of $5.68.

DocGo (NASDAQ:DCGO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The company had revenue of $96.03 million during the quarter, compared to the consensus estimate of $104.25 million. DocGo had a negative net margin of 0.12% and a positive return on equity of 2.52%. On average, sell-side analysts forecast that DocGo Inc. will post 0.25 earnings per share for the current fiscal year.

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.