Gogo (NASDAQ:GOGO) Reaches New 1-Year Low – Time to Sell?

Gogo Inc. (NASDAQ:GOGO) shares hit a new 52-week low on Tuesday . The company traded as low as $5.28 and last traded at $5.6550, with a volume of 4244399 shares changing hands. The stock had previously closed at $6.75.

Analysts Set New Price Targets

A number of research firms have issued reports on GOGO. Morgan Stanley assumed coverage on shares of Gogo in a research report on Thursday, August 14th. They set an “equal weight” rating and a $15.00 price target for the company. William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Gogo in a report on Monday, December 1st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.83.

Gogo Stock Performance

The stock has a 50 day moving average price of $8.14 and a two-hundred day moving average price of $11.06. The company has a market capitalization of $762.28 million, a price-to-earnings ratio of -114.10 and a beta of 0.90. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40.

Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, November 6th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). The business had revenue of $223.59 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GOGO. Vanguard Group Inc. boosted its stake in shares of Gogo by 6.3% during the third quarter. Vanguard Group Inc. now owns 6,651,058 shares of the technology company’s stock valued at $57,133,000 after purchasing an additional 396,236 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Gogo by 6.9% in the third quarter. William Blair Investment Management LLC now owns 6,067,663 shares of the technology company’s stock worth $52,121,000 after purchasing an additional 393,830 shares during the period. Nantahala Capital Management LLC increased its position in Gogo by 38.5% in the 1st quarter. Nantahala Capital Management LLC now owns 3,564,797 shares of the technology company’s stock valued at $30,729,000 after buying an additional 990,155 shares in the last quarter. LB Partners LLC increased its holdings in shares of Gogo by 30.0% during the third quarter. LB Partners LLC now owns 3,228,979 shares of the technology company’s stock valued at $27,737,000 after acquiring an additional 745,000 shares in the last quarter. Finally, Tenzing Global Management LLC raised its holdings in Gogo by 31.3% during the first quarter. Tenzing Global Management LLC now owns 2,725,000 shares of the technology company’s stock worth $23,490,000 after buying an additional 650,000 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.

Gogo Company Profile

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.