Short Interest in Gogo Inc. (NASDAQ:GOGO) Expands By 8.2%

Gogo Inc. (NASDAQ:GOGO) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 20,450,000 shares, a growth of 8.2% from the November 30th total of 18,900,000 shares. Based on an average daily volume of 1,380,000 shares, the days-to-cover ratio is currently 14.8 days. Currently, 33.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th.

Gogo Trading Up 6.6 %

NASDAQ GOGO opened at $8.09 on Thursday. The stock’s 50-day simple moving average is $7.72 and its two-hundred day simple moving average is $7.93. Gogo has a twelve month low of $6.17 and a twelve month high of $11.17. 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 company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.81 and a beta of 1.18.

Hedge Funds Weigh In On Gogo

Large investors have recently modified their holdings of the company. FMR LLC raised its stake 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 acquiring an additional 673,315 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Gogo by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock worth $29,901,000 after purchasing an additional 43,805 shares during the period. Capco Asset Management LLC lifted its stake in Gogo by 1.7% in the second quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock worth $23,857,000 after purchasing an additional 41,866 shares during the last quarter. State Street Corp boosted its position in Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after buying an additional 51,681 shares during the period. Finally, William Blair Investment Management LLC grew its stake in shares of Gogo by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after buying an additional 152,338 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other 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.