DocGo Inc. [DCGO] Revenue clocked in at $228.63 million, down -0.75% YTD: What’s Next?



DocGo Inc. [NASDAQ: DCGO] slipped around -0.25 points on Tuesday, while shares priced at $9.28 at the close of the session, down -2.62%. The company report on December 31, 2021 that ONGOING INVESTIGATION ALERT: The Schall Law Firm Encourages Investors in DocGo Inc. with Losses of $100,000 to Contact the Firm.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of DocGo Inc. (“DocGo” or “the Company”) (NASDAQ:DCGO) for violations of the securities laws.

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The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. DocGo stated in an SEC filing that: “on November 22, 2021, the audit committee of the board of directors of the Company (the “Audit Committee”), based on the recommendation of and after consultation with management, concluded that the Company’s (i) audited balance sheet as of December 8, 2020 (the “Audited Balance Sheet”) filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on December 14, 2020, as amended as set forth in the Restated Form 10-K (as defined below), (ii) audited financial statements for the year ended December 31, 2020 (together with the Audited Balance Sheet, the “Audited Affected Financials”), as reported in the Company’s Annual Report on Form 10-K/A filed with the SEC on May 14, 2021 (the “Restated Form 10-K”), (iii) unaudited financial statements as of March 31, 2021 (the “Q-1 Unaudited Financials”) contained in the Company’s Quarterly Report on Form 10-Q filed with the SEC on May 28, 2021, (iv) unaudited financial statements as of June 30, 2021 (together with the Q-1 Unaudited Financials, the “Unaudited Affected Financials”) contained in the Company’s Quarterly Report on Form 10-Q filed with the SEC on August 13, 2021 and (v) Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021 filed with the SEC on November 10, 2021, should no longer be relied upon due to the error described above. The Company intends to reflect the error in an amendment to (1) its Annual Report on Form 10-K for the year ended December 31, 2020 (to include restatements with respect to the Audited Affected Financials) (the “Amended Form 10-K”) and (2) its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021 (to include restatements with respect to the Unaudited Affected Financials) (the “Amended Form 10-Q”). Similarly, the related press releases, stockholder communications, investor presentations or other communications describing relevant portions of the Company’s financial statements for these periods, should no longer be relied upon.”.

DocGo Inc. stock is now -0.75% down from its year-to-date (YTD) trading value. DCGO Stock saw the intraday high of $9.61 and lowest of $8.91 per share. The company’s 52-week high price is 11.86, which means current price is +4.15% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 564.18K shares, DCGO reached a trading volume of 5983976 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about DocGo Inc. [DCGO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DCGO shares is $15.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DCGO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for DocGo Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 21, 2021. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on December 07, 2021, representing the official price target for DocGo Inc. stock.

The Average True Range (ATR) for DocGo Inc. is set at 0.68, with the Price to Sales ratio for DCGO stock in the period of the last 12 months amounting to 3.93. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 0.00.

How has DCGO stock performed recently?

DocGo Inc. [DCGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.07. With this latest performance, DCGO shares gained by 15.71% in over the last four-week period, additionally sinking by -6.64% over the last 6 months – not to mention a drop of -8.62% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DCGO stock in for the last two-week period is set at 55.09, with the RSI for the last a single of trading hit 57.60, and the three-weeks RSI is set at 53.03 for DocGo Inc. [DCGO]. The present Moving Average for the last 50 days of trading for this stock 9.06, while it was recorded at 9.27 for the last single week of trading, and 9.72 for the last 200 days.

DocGo Inc. [DCGO]: Deeper insight into the fundamentals

DocGo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

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Insider trade positions for DocGo Inc. [DCGO]

There are presently around $108 million, or 11.40% of DCGO stock, in the hands of institutional investors. The top three institutional holders of DCGO stocks are: ARENA CAPITAL ADVISORS, LLC- CA with ownership of 1,118,753, which is approximately 78.769% of the company’s market cap and around 14.40% of the total institutional ownership; LINDEN ADVISORS LP, holding 1,067,457 shares of the stock with an approximate value of $10.17 million in DCGO stocks shares; and BANK OF MONTREAL /CAN/, currently with $8.4 million in DCGO stock with ownership of nearly 0% of the company’s market capitalization.

13 institutional holders increased their position in DocGo Inc. [NASDAQ:DCGO] by around 1,805,863 shares. Additionally, 16 investors decreased positions by around 797,243 shares, while 15 investors held positions by with 8,761,509 shares. The mentioned changes placed institutional holdings at 11,364,615 shares, according to the latest SEC report filing. DCGO stock had 6 new institutional investments in for a total of 877,997 shares, while 2 institutional investors sold positions of 128,946 shares during the same period.