Gogo (NASDAQ:GOGO) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Gogo Inc. (NASDAQ:GOGO) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.56 and traded as low as $4.53. Gogo shares last traded at $4.62, with a volume of 1,342,499 shares.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Gogo in a research report on Monday. William Blair cut shares of Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.83.

Gogo Trading Up 0.7%

The business’s fifty day moving average price is $7.18 and its 200 day moving average price is $10.56. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 7.79. The firm has a market capitalization of $618.39 million, a PE ratio of -92.40 and a beta of 0.89.

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

Insider Activity

In other Gogo news, insider Oakleigh Thorne acquired 170,000 shares of the stock in a transaction dated Friday, December 12th. The stock was acquired at an average price of $5.34 per share, with a total value of $907,800.00. Following the completion of the transaction, the insider directly owned 954,098 shares in the company, valued at approximately $5,094,883.32. This trade represents a 21.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 25.78% of the stock is owned by company insiders.

Institutional Trading of Gogo

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Gogo by 69.6% during the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after acquiring an additional 6,978 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Gogo by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 580,545 shares of the technology company’s stock valued at $5,004,000 after purchasing an additional 25,623 shares during the period. Invesco Ltd. increased its position in Gogo by 4.5% during the first quarter. Invesco Ltd. now owns 184,680 shares of the technology company’s stock worth $1,592,000 after purchasing an additional 7,958 shares during the last quarter. Nuveen LLC purchased a new position in Gogo during the first quarter worth approximately $1,927,000. Finally, American Century Companies Inc. raised its stake in Gogo by 18.2% during the first quarter. American Century Companies Inc. now owns 174,630 shares of the technology company’s stock worth $1,505,000 after purchasing an additional 26,873 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.