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

Gogo Inc. (NASDAQ:GOGO) hit a new 52-week low during trading on Friday . The stock traded as low as $3.84 and last traded at $3.9050, with a volume of 431699 shares traded. The stock had previously closed at $4.06.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GOGO shares. Weiss Ratings raised Gogo from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Roth Mkm set a $12.00 target price on Gogo in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $8.00 target price on Gogo in a research report on Friday, January 16th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.00.

Gogo Price Performance

The firm has a 50-day moving average of $4.43 and a 200 day moving average of $5.21. The company has a debt-to-equity ratio of 6.89, a current ratio of 1.66 and a quick ratio of 1.27. The company has a market capitalization of $528.11 million, a PE ratio of 35.50 and a beta of 1.06.

Gogo (NASDAQ:GOGO) last released its 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 37.53% and a net margin of 1.54%.The business had revenue of $230.56 million for the quarter, compared to analysts’ expectations of $222.65 million. During the same quarter in the prior year, the business posted ($0.22) EPS. The business’s revenue for the quarter was up 67.3% compared to the same quarter last year. As a group, research analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles C. Townsend purchased 158,591 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $4.57 per share, for a total transaction of $724,760.87. Following 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gogo

Several institutional investors have recently added to or reduced their stakes in GOGO. Caitong International Asset Management Co. Ltd purchased a new position in Gogo during the 4th quarter valued at approximately $27,000. PNC Financial Services Group Inc. boosted its holdings in shares of Gogo by 310.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company’s stock worth $29,000 after purchasing an additional 5,536 shares during the period. State of Wyoming purchased a new position in shares of Gogo in the 3rd quarter worth approximately $32,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 purchasing an additional 10,065 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Gogo during the 4th quarter worth approximately $52,000. 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.