Gogo (NASDAQ:GOGO) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Gogo Inc. (NASDAQ:GOGO) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.23 and traded as low as $4.04. Gogo shares last traded at $4.19, with a volume of 1,288,271 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOGO. Morgan Stanley set a $8.00 price objective on Gogo in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Gogo in a research report on Monday, December 29th. Finally, William Blair downgraded shares of Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.25.

Gogo Stock Up 0.2%

The stock has a fifty day moving average of $4.96 and a 200 day moving average of $8.23. The firm has a market capitalization of $560.83 million, a P/E ratio of -83.80 and a beta of 1.04. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40.

Insider Buying and Selling

In related news, insider Oakleigh Thorne bought 170,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were purchased at an average cost of $5.34 per share, for a total transaction of $907,800.00. Following the completion of the purchase, the insider directly owned 954,098 shares in the company, valued at $5,094,883.32. The trade was a 21.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 25.78% of the company’s stock.

Institutional Investors Weigh In On Gogo

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC purchased a new stake in Gogo in the third quarter worth $30,000. State of Wyoming bought a new position in shares of Gogo during the 3rd quarter worth $32,000. Farther Finance Advisors LLC increased its holdings in Gogo by 91,500.0% in the 4th quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock worth $47,000 after acquiring an additional 10,065 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Gogo in the 4th quarter valued at about $54,000. Finally, Quarry LP raised its stake in Gogo by 86.1% in the 3rd quarter. Quarry LP now owns 7,171 shares of the technology company’s stock valued at $62,000 after acquiring an additional 3,318 shares during the period. Institutional investors own 69.60% of the company’s stock.

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.