Gogo (NASDAQ:GOGO) Stock Price Down 7.4% – What’s Next?

Gogo Inc. (NASDAQ:GOGO)’s stock price traded down 7.4% on Friday . The company traded as low as $4.53 and last traded at $4.4260. 64,750 shares were traded during trading, a decline of 96% from the average session volume of 1,847,048 shares. The stock had previously closed at $4.78.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Roth Mkm set a $12.00 target price on shares of Gogo in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley dropped their target price on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. 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. Based on data from MarketBeat.com, Gogo currently has a consensus rating of “Hold” and an average price target of $9.50.

Gogo Stock Down 6.4%

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’s 50-day simple moving average is $4.33 and its 200 day simple moving average is $4.89. The firm has a market cap of $605.20 million, a P/E ratio of 40.50 and a beta of 1.06.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). Gogo had a net margin of 1.54% and a return on equity of 37.53%. The business had revenue of $230.56 million for the quarter, compared to the consensus estimate of $222.65 million. During the same quarter last year, the business earned ($0.22) EPS. Gogo’s revenue for the quarter was up 67.3% compared to the same quarter last year. Research analysts anticipate that Gogo Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Gogo news, Director Charles C. Townsend acquired 158,591 shares of the 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 completion of the transaction, the director directly owned 418,686 shares of the company’s stock, valued at $1,913,395.02. This trade represents a 60.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gogo

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Gogo in the fourth quarter valued at $27,000. PNC Financial Services Group Inc. raised its stake in shares of Gogo by 310.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company’s stock valued at $29,000 after acquiring an additional 5,536 shares during the period. State of Wyoming purchased a new stake in shares of Gogo in the third quarter valued at $32,000. Farther Finance Advisors LLC raised its stake in shares of Gogo by 91,500.0% in the fourth quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock valued at $47,000 after acquiring an additional 10,065 shares during the period. Finally, Stifel Financial Corp purchased a new stake in shares of Gogo in the fourth quarter valued at $52,000. 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.