Gogo (NASDAQ:GOGO) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

Separately, Roth Mkm reduced their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday.

Gogo Stock Performance

Shares of NASDAQ:GOGO opened at $6.47 on Monday. The company’s 50 day moving average price is $7.75 and its two-hundred day moving average price is $7.56. Gogo has a 12-month low of $6.17 and a 12-month high of $11.00. The firm has a market cap of $813.79 million, a PE ratio of 15.05 and a beta of 1.01. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last announced its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $137.80 million for the quarter, compared to analyst estimates of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business’s revenue was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS. Equities research analysts predict that Gogo will post 0.41 earnings per share for the current year.

Institutional Trading of Gogo

Several large investors have recently made changes to their positions in GOGO. FMR LLC lifted its stake in Gogo by 138.4% in the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock valued at $109,013,000 after purchasing an additional 7,821,973 shares during the last quarter. Nantahala Capital Management LLC lifted its stake in Gogo by 441.5% in the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock valued at $20,829,000 after purchasing an additional 2,099,145 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in Gogo in the 4th quarter valued at approximately $14,147,000. Tenzing Global Management LLC lifted its stake in Gogo by 59.6% in the 4th quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company’s stock valued at $16,787,000 after purchasing an additional 775,000 shares during the last quarter. Finally, Capco Asset Management LLC lifted its stake in Gogo by 22.1% in the 4th quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock valued at $24,349,000 after purchasing an additional 544,178 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.