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

Gogo Inc. (NASDAQ:GOGO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.45 and traded as low as $4.28. Gogo shares last traded at $4.48, with a volume of 2,272,450 shares.

Analyst Upgrades and Downgrades

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

Gogo Trading Up 5.2%

The stock’s 50 day simple moving average is $4.52 and its two-hundred day simple moving average is $6.45. The stock has a market capitalization of $603.38 million, a PE ratio of 44.80 and a beta of 1.07. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.60 and a quick ratio of 1.24.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Friday, February 27th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). Gogo had a return on equity of 55.95% and a net margin of 1.42%.The company had revenue of $230.56 million for the quarter, compared to analysts’ expectations of $222.65 million. During the same quarter in the previous year, the business earned ($0.22) EPS. The company’s revenue for the quarter was up 67.3% on a year-over-year basis. On average, sell-side analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

Insider Activity

In other news, Director Charles C. Townsend purchased 158,591 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $4.57 per share, for a total transaction of $724,760.87. Following the purchase, the director owned 418,686 shares of the company’s stock, valued at $1,913,395.02. The trade was a 60.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gogo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Gogo during the fourth quarter worth about $27,000. Fortitude Family Office LLC bought a new stake in shares of Gogo in the third quarter valued at approximately $30,000. State of Wyoming bought a new stake in shares of Gogo in the third quarter valued at approximately $32,000. Farther Finance Advisors LLC lifted its stake in shares of Gogo by 91,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock valued at $47,000 after buying an additional 10,065 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Gogo during the 4th quarter valued at approximately $52,000. 69.60% of the stock is currently owned by institutional investors.

About Gogo

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.