Gogo (NASDAQ:GOGO) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Gogo Inc. (NASDAQ:GOGO) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.64 and traded as low as $4.73. Gogo shares last traded at $4.78, with a volume of 1,507,470 shares trading hands.

Wall Street Analyst Weigh In

GOGO has been the topic of a number of research analyst reports. William Blair downgraded Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Weiss Ratings reiterated 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 shares of Gogo in a research note on Friday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

Gogo Trading Up 0.4%

The firm has a market cap of $642.48 million, a price-to-earnings ratio of -96.00 and a beta of 0.96. The business has a 50 day moving average of $5.78 and a 200 day moving average of $9.53. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 7.79.

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

Insider Activity

In other news, insider Oakleigh Thorne bought 170,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $5.34 per share, for a total transaction of $907,800.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 25.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in shares of Gogo by 105.0% in the fourth quarter. SG Americas Securities LLC now owns 69,958 shares of the technology company’s stock valued at $326,000 after purchasing an additional 35,838 shares during the period. Tudor Investment Corp ET AL grew its holdings in Gogo by 1,095.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 705,968 shares of the technology company’s stock valued at $6,064,000 after buying an additional 646,894 shares during the period. Hancock Whitney Corp purchased a new stake in Gogo in the 3rd quarter valued at about $92,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Gogo by 35.8% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 90,110 shares of the technology company’s stock valued at $765,000 after acquiring an additional 23,734 shares during the last quarter. Finally, PharVision Advisers LLC lifted its holdings in shares of Gogo by 268.4% during the 3rd quarter. PharVision Advisers LLC now owns 42,993 shares of the technology company’s stock worth $369,000 after acquiring an additional 31,324 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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.