Gogo (NASDAQ:GOGO) Sets New 12-Month Low – Should You Sell?

by · The Cerbat Gem

Gogo Inc. (NASDAQ:GOGOGet Free Report)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $4.48 and last traded at $4.4850, with a volume of 251561 shares changing hands. The stock had previously closed at $4.61.

Wall Street Analyst Weigh In

GOGO has been the subject of several recent analyst reports. William Blair lowered Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Gogo in a research note on Monday. Two research analysts have 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.83.

View Our Latest Research Report on GOGO

Gogo Trading Down 2.3%

The firm has a market capitalization of $602.99 million, a price-to-earnings ratio of -89.90 and a beta of 0.89. The business’s fifty day moving average is $7.10 and its 200 day moving average is $10.52. 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:GOGOGet Free Report) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.12). The firm had revenue of $223.59 million for the quarter, compared to the consensus estimate of $222.23 million. Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.The business’s revenue was up 122.4% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. Equities analysts predict that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Transactions at Gogo

In other Gogo news, insider Oakleigh Thorne acquired 170,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were bought at an average cost of $5.34 per share, with a total value of $907,800.00. Following the purchase, the insider directly owned 954,098 shares of the company’s stock, valued at $5,094,883.32. This trade represents a 21.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 25.78% of the company’s stock.

Institutional Trading of Gogo

Several large investors have recently modified their holdings of GOGO. Fortitude Family Office LLC bought a new stake in Gogo in the third quarter worth $30,000. State of Wyoming bought a new position in Gogo in the third quarter valued at about $32,000. USA Financial Formulas bought a new stake in Gogo during the second quarter valued at approximately $76,000. CWM LLC increased its stake in shares of Gogo by 127.0% in the 2nd quarter. CWM LLC now owns 6,626 shares of the technology company’s stock worth $97,000 after purchasing an additional 3,707 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Gogo by 86.1% in the third quarter. Quarry LP now owns 7,171 shares of the technology company’s stock worth $62,000 after buying an additional 3,318 shares during the period. 69.60% of the stock is owned by institutional investors.

About Gogo

(Get Free Report)

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.

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