AXQ Capital LP Has $291,000 Stock Holdings in Gogo Inc. $GOGO

AXQ Capital LP decreased its stake in shares of Gogo Inc. (NASDAQ:GOGO) by 31.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,806 shares of the technology company’s stock after selling 9,063 shares during the quarter. AXQ Capital LP’s holdings in Gogo were worth $291,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOGO. USA Financial Formulas acquired a new stake in shares of Gogo in the second quarter valued at approximately $76,000. CWM LLC grew its holdings in Gogo by 127.0% in the 2nd quarter. CWM LLC now owns 6,626 shares of the technology company’s stock valued at $97,000 after buying an additional 3,707 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in Gogo during the 2nd quarter worth $147,000. Corton Capital Inc. acquired a new stake in Gogo in the 2nd quarter worth about $152,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gogo in the first quarter valued at approximately $111,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Gogo Stock Down 0.8%

Shares of NASDAQ:GOGO opened at $7.00 on Tuesday. The business’s 50 day simple moving average is $8.52 and its two-hundred day simple moving average is $11.42. Gogo Inc. has a 52-week low of $6.20 and a 52-week high of $16.82. The company has a debt-to-equity ratio of 7.79, a quick ratio of 1.40 and a current ratio of 1.74. The firm has a market cap of $936.95 million, a P/E ratio of -140.00 and a beta of 1.04.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.12). Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.The business had revenue of $223.59 million for the quarter, compared to analyst estimates of $222.23 million. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s quarterly revenue was up 122.4% on a year-over-year basis. Gogo has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen downgraded Gogo from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Morgan Stanley began coverage on Gogo in a report on Thursday, August 14th. They set an “equal weight” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Gogo in a report on Monday, November 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Gogo has an average rating of “Hold” and a consensus price target of $14.83.

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.