DocGo (NASDAQ:DCGO) Lowered to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of DocGo (NASDAQ:DCGO) from a buy rating to a hold rating in a report issued on Friday morning, Marketbeat.com reports. The firm currently has $2.85 price objective on the stock, down from their previous price objective of $5.00.

Separately, Needham & Company LLC lowered their price objective on shares of DocGo from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DocGo has an average rating of “Moderate Buy” and a consensus target price of $4.89.

DocGo Stock Down 21.2 %

NASDAQ DCGO opened at $3.09 on Friday. DocGo has a 52 week low of $2.75 and a 52 week high of $5.68. The business has a 50 day moving average price of $4.61 and a 200-day moving average price of $4.02. The company has a market cap of $315.34 million, a price-to-earnings ratio of 11.04, a P/E/G ratio of 14.16 and a beta of 1.00.

Insider Activity at DocGo

In other DocGo news, General Counsel Ely D. Tendler sold 23,088 shares of DocGo stock in a transaction 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 directly owns 175,645 shares of the company’s stock, valued at $779,863.80. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Centiva Capital LP purchased a new stake in DocGo in the 3rd quarter valued at about $43,000. Summit Investment Advisors Inc. grew its holdings in shares of DocGo by 38.7% in the fourth 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 in the last quarter. Prudential Financial Inc. purchased a new stake in shares of DocGo during the fourth quarter valued at approximately $55,000. Intech Investment Management LLC bought a new stake in DocGo during the third quarter worth $62,000. Finally, Royce & Associates LP purchased a new position in DocGo in the fourth quarter worth $64,000. 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.