Gogo (NASDAQ:GOGO) Stock Passes Below Two Hundred Day Moving Average of $9.36

Gogo Inc. (NASDAQ:GOGO) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.36 and traded as low as $9.19. Gogo shares last traded at $9.25, with a volume of 701,316 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOGO shares. Morgan Stanley decreased their price objective on Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 16th. JPMorgan Chase & Co. started coverage on Gogo in a report on Thursday, February 29th. They issued a “neutral” rating and a $11.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.30.

Gogo Trading Down 2.4 %

The business has a 50-day moving average price of $9.68 and a two-hundred day moving average price of $9.36. The stock has a market capitalization of $1.18 billion, a P/E ratio of 7.91 and a beta of 1.05. The company has a current ratio of 4.20, a quick ratio of 3.33 and a debt-to-equity ratio of 9.39.

Gogo (NASDAQ:GOGO) last released its earnings results on Tuesday, May 7th. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. The firm had revenue of $104.32 million during the quarter, compared to the consensus estimate of $96.62 million. Gogo had a return on equity of 229.65% and a net margin of 38.61%. On average, analysts expect that Gogo Inc. will post 0.35 EPS for the current fiscal year.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently modified their holdings of GOGO. LB Partners LLC bought a new stake in shares of Gogo during the 4th quarter worth $14,655,000. Burgundy Asset Management Ltd. lifted its position in shares of Gogo by 27.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 3,064,421 shares of the technology company’s stock worth $26,906,000 after buying an additional 664,803 shares during the last quarter. Tenzing Global Management LLC lifted its position in shares of Gogo by 13.6% during the 3rd quarter. Tenzing Global Management LLC now owns 2,500,000 shares of the technology company’s stock worth $29,825,000 after buying an additional 300,000 shares during the last quarter. Kennedy Capital Management LLC lifted its position in shares of Gogo by 21.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 538,046 shares of the technology company’s stock worth $6,419,000 after buying an additional 96,775 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Gogo during the 1st quarter worth $736,000. 69.60% of the stock is currently owned by institutional investors.

About Gogo

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.