DocGo (NASDAQ:DCGO) Hits New 52-Week High – Should You Buy?

DocGo Inc. (NASDAQ:DCGO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.62 and last traded at $5.60, with a volume of 89921 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of DocGo in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.10.

DocGo Price Performance

The company has a market cap of $513.31 million, a P/E ratio of 17.96, a P/E/G ratio of 15.77 and a beta of 1.00. The stock’s 50-day moving average is $4.60 and its two-hundred day moving average is $3.98.

Insider Activity at DocGo

In related news, General Counsel Ely D. Tendler sold 23,088 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.44, for a total transaction of $102,510.72. Following the transaction, the general counsel now owns 175,645 shares in the company, valued at $779,863.80. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by insiders.

Institutional Trading of DocGo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in DocGo by 1.3% during the fourth quarter. Invesco Ltd. now owns 177,953 shares of the company’s stock valued at $755,000 after buying an additional 2,312 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in DocGo by 38.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,639 shares of the company’s stock valued at $45,000 after buying an additional 2,968 shares during the last quarter. SG Americas Securities LLC increased its holdings in DocGo by 12.9% during the fourth quarter. SG Americas Securities LLC now owns 43,052 shares of the company’s stock valued at $183,000 after buying an additional 4,905 shares during the last quarter. Rhumbline Advisers increased its holdings in DocGo by 4.5% during the fourth quarter. Rhumbline Advisers now owns 142,762 shares of the company’s stock valued at $605,000 after buying an additional 6,204 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in DocGo by 12.3% during the fourth quarter. Victory Capital Management Inc. now owns 57,649 shares of the company’s stock valued at $244,000 after buying an additional 6,300 shares during the last quarter. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.