Gogo (NASDAQ:GOGO) Hits New 12-Month Low at $6.77

Shares of Gogo Inc. (NASDAQ:GOGO) reached a new 52-week low on Monday . The stock traded as low as $6.77 and last traded at $6.78, with a volume of 572700 shares traded. The stock had previously closed at $7.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOGO. Roth Mkm reissued a “buy” rating and issued a $15.50 target price on shares of Gogo in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their target price on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd.

Gogo Trading Down 2.2 %

The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95. The company has a market capitalization of $861.77 million, a price-to-earnings ratio of 5.79 and a beta of 1.11. The firm has a fifty day moving average price of $8.14 and a 200-day moving average price of $8.91.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. As a group, equities analysts anticipate that Gogo Inc. will post 0.35 EPS for the current year.

Institutional Investors Weigh In On Gogo

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOGO. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gogo in the second quarter worth about $107,000. AQR Capital Management LLC bought a new position in Gogo in the 2nd quarter valued at approximately $108,000. SG Americas Securities LLC acquired a new stake in Gogo in the second quarter valued at approximately $109,000. Point72 DIFC Ltd bought a new stake in shares of Gogo during the second quarter worth $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Gogo by 67.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock worth $166,000 after buying an additional 6,941 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.

Gogo Company Profile

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.