Gogo (NASDAQ:GOGO) Trading Up 4.1% – Time to Buy?

Shares of Gogo Inc. (NASDAQ:GOGO) rose 4.1% during trading on Tuesday . The stock traded as high as $7.97 and last traded at $7.90. Approximately 138,949 shares traded hands during trading, a decline of 86% from the average daily volume of 1,019,239 shares. The stock had previously closed at $7.59.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOGO. Roth Mkm reissued a “buy” rating and set a $15.50 target price on shares of Gogo in a report on Tuesday, September 17th. Morgan Stanley lowered their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd.

Gogo Stock Up 3.4 %

The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The firm has a 50-day moving average of $7.68 and a two-hundred day moving average of $7.94. The stock has a market capitalization of $987.37 million, a price-to-earnings ratio of 18.26 and a beta of 1.18.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Gogo by 13.5% during the third quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after buying an additional 673,315 shares during the last quarter. Weiss Asset Management LP bought a new position in Gogo during the 3rd quarter valued at about $3,031,000. Select Equity Group L.P. bought a new position in shares of Gogo in the second quarter valued at approximately $2,764,000. LB Partners LLC boosted its stake in Gogo by 12.4% in the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after purchasing an additional 225,000 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Gogo by 612.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock valued at $1,817,000 after buying an additional 217,570 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

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.