Gogo (NASDAQ:GOGO) Shares Pass Below 200 Day Moving Average of $10.10

Gogo Inc. (NASDAQ:GOGOGet Free Report)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.10 and traded as low as $8.40. Gogo shares last traded at $8.45, with a volume of 994,570 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOGO. JPMorgan Chase & Co. began coverage on shares of Gogo in a research report on Thursday, February 29th. They set a “neutral” rating and a $11.00 target price for the company. Roth Mkm reduced their target price on shares of Gogo from $18.75 to $17.50 and set a “buy” rating for the company in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

Check Out Our Latest Report on GOGO

Gogo Stock Performance

The company’s fifty day moving average is $8.99 and its 200 day moving average is $10.10. The company has a current ratio of 4.37, a quick ratio of 3.49 and a debt-to-equity ratio of 14.43. The company has a market cap of $1.08 billion, a P/E ratio of 7.75 and a beta of 1.07.

Gogo (NASDAQ:GOGOGet Free Report) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The firm had revenue of $97.81 million during the quarter, compared to analysts’ expectations of $96.56 million. During the same period last year, the company posted $0.21 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts predict that Gogo Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Activity at Gogo

In other news, Director Harris N. Williams bought 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average cost of $8.10 per share, with a total value of $97,200.00. Following the completion of the acquisition, the director now owns 20,990 shares of the company’s stock, valued at $170,019. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Harris N. Williams purchased 12,000 shares of Gogo stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $8.10 per share, for a total transaction of $97,200.00. Following the completion of the purchase, the director now directly owns 20,990 shares of the company’s stock, valued at approximately $170,019. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles C. Townsend purchased 28,857 shares of Gogo stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $9.03 per share, with a total value of $260,578.71. Following the completion of the purchase, the director now directly owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The disclosure for this purchase can be found here. 26.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. purchased a new position in shares of Gogo in the 3rd quarter valued at approximately $23,850,000. Swiss National Bank raised its position in shares of Gogo by 1.5% in the 3rd quarter. Swiss National Bank now owns 141,300 shares of the technology company’s stock valued at $1,686,000 after purchasing an additional 2,100 shares during the last quarter. SCP Investment LP raised its position in shares of Gogo by 40.3% in the 3rd quarter. SCP Investment LP now owns 905,000 shares of the technology company’s stock valued at $10,797,000 after purchasing an additional 260,000 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Gogo by 32.9% in the 3rd quarter. Gamco Investors INC. ET AL now owns 361,400 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 89,500 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in Gogo in the 2nd quarter worth approximately $176,000. 69.60% of the stock is currently owned by institutional investors.

Gogo Company Profile

(Get Free Report)

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.

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