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

Gogo Inc. (NASDAQ:GOGO)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.18 and traded as low as $3.94. Gogo shares last traded at $4.01, with a volume of 1,509,541 shares trading hands.

Analyst Upgrades and Downgrades

GOGO has been the topic of several analyst reports. William Blair lowered shares of Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Gogo in a report on Friday, March 27th. Finally, Morgan Stanley set a $8.00 price objective on Gogo in a research report on Friday, January 16th. One equities 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. Based on data from MarketBeat.com, Gogo presently has a consensus rating of “Hold” and a consensus price target of $12.25.

Gogo Trading Down 0.2%

The stock has a market cap of $540.07 million, a price-to-earnings ratio of 40.10 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. The company’s fifty day moving average price is $4.44 and its 200-day moving average price is $6.18.

Gogo (NASDAQ:GOGO) last released its earnings results on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $222.65 million. During the same quarter last year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 67.3% on a year-over-year basis. On average, research analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity at Gogo

In related news, Director Charles C. Townsend acquired 158,591 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $4.57 per share, with a total value of $724,760.87. Following the completion of the acquisition, the director directly owned 418,686 shares of the company’s stock, valued at $1,913,395.02. This represents a 60.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.78% of the company’s stock.

Hedge Funds Weigh In On Gogo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Gogo during the 4th quarter valued at about $27,000. Alpine Global Management LLC purchased a new position in shares of Gogo in the fourth quarter worth about $182,000. Aristides Capital LLC acquired a new stake in shares of Gogo during the fourth quarter worth about $182,000. Virtu Financial LLC acquired a new stake in shares of Gogo during the fourth quarter worth about $437,000. Finally, Invesco Ltd. boosted its position in Gogo by 49.0% in the fourth quarter. Invesco Ltd. now owns 795,707 shares of the technology company’s stock valued at $3,708,000 after buying an additional 261,672 shares during the last quarter. Hedge funds and other 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.