Gogo (NASDAQ:GOGO) Hits New 1-Year Low – Should You Sell?

by · The Markets Daily

Gogo Inc. (NASDAQ:GOGOGet Free Report)’s share price hit a new 52-week low on Monday . The company traded as low as $4.43 and last traded at $4.45, with a volume of 1300650 shares changing hands. The stock had previously closed at $4.59.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOGO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a report on Monday, December 29th. William Blair lowered Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Finally, Morgan Stanley set a $8.00 target price on shares of Gogo in a research report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.25.

Read Our Latest Report on GOGO

Gogo Stock Performance

The firm has a 50-day moving average price of $5.31 and a two-hundred day moving average price of $8.72. The firm has a market capitalization of $595.65 million, a P/E ratio of -89.00 and a beta of 0.96. 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:GOGOGet Free Report) last issued its earnings results on Thursday, November 6th. The technology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). The company had revenue of $223.59 million for the quarter, compared to analysts’ expectations 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 business posted $0.08 earnings per share. On average, analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Gogo news, insider Oakleigh Thorne purchased 170,000 shares of Gogo stock in a transaction dated Friday, December 12th. The stock was acquired at an average price of $5.34 per share, for a total transaction of $907,800.00. Following the acquisition, the insider owned 954,098 shares in the company, valued at $5,094,883.32. This trade represents a 21.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 25.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GOGO. New York State Teachers Retirement System grew its position in shares of Gogo by 73.2% in the 4th quarter. New York State Teachers Retirement System now owns 70,270 shares of the technology company’s stock worth $327,000 after buying an additional 29,700 shares during the last quarter. Inscription Capital LLC purchased a new position in shares of Gogo during the fourth quarter worth $87,000. UBS Group AG lifted its position in Gogo by 32.5% during the fourth quarter. UBS Group AG now owns 500,807 shares of the technology company’s stock valued at $2,334,000 after purchasing an additional 122,706 shares during the period. Merit Financial Group LLC purchased a new stake in Gogo in the fourth quarter valued at $176,000. Finally, Farther Finance Advisors LLC boosted its holdings in 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 purchasing an additional 10,065 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other 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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