Insider Buying: DocGo Inc. (NASDAQ:DCGO) Insider Purchases 10,000 Shares of Stock

DocGo Inc. (NASDAQ:DCGO) insider Stephen Sugrue acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $1.44 per share, with a total value of $14,400.00. Following the completion of the acquisition, the insider now owns 357,328 shares in the company, valued at $514,552.32. This trade represents a 2.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

DocGo Trading Up 5.0%

DCGO opened at $1.47 on Friday. The stock has a 50-day moving average price of $2.37 and a 200-day moving average price of $3.61. DocGo Inc. has a 12-month low of $1.35 and a 12-month high of $5.68. The stock has a market capitalization of $149.92 million, a P/E ratio of 5.25, a PEG ratio of 14.16 and a beta of 1.14.

DocGo (NASDAQ:DCGO) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.08). The firm had revenue of $96.03 million during the quarter, compared to analysts’ expectations of $104.25 million. DocGo had a return on equity of 8.90% and a net margin of 4.35%. On average, equities research analysts predict that DocGo Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $1.45 price objective (down from $5.00) on shares of DocGo in a report on Monday, May 12th. Stifel Nicolaus cut their price objective on shares of DocGo from $6.50 to $5.50 and set a “buy” rating for the company in a report on Friday, February 28th. Needham & Company LLC cut their price objective on shares of DocGo from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft downgraded shares of DocGo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $5.00 to $2.85 in a report on Friday, February 28th. Finally, BTIG Research downgraded shares of DocGo from a “buy” rating to a “neutral” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, DocGo has a consensus rating of “Moderate Buy” and an average price target of $3.56.

Institutional Investors Weigh In On DocGo

Institutional investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. boosted its holdings in DocGo by 38.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company’s stock valued at $45,000 after acquiring an additional 2,968 shares during the period. Summit Securities Group LLC purchased a new stake in DocGo during the 1st quarter valued at about $34,000. Prudential Financial Inc. purchased a new stake in DocGo during the 4th quarter valued at about $55,000. Royce & Associates LP purchased a new stake in DocGo during the 4th quarter valued at about $64,000. Finally, Boothbay Fund Management LLC boosted its holdings in DocGo by 154.9% during the 4th quarter. Boothbay Fund Management LLC now owns 27,445 shares of the company’s stock valued at $116,000 after acquiring an additional 77,445 shares during the period. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

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.