Gogo (NASDAQ:GOGO) Reaches New 1-Year Low at $6.41

Gogo Inc. (NASDAQ:GOGO)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $6.41 and last traded at $6.43, with a volume of 984783 shares. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GOGO shares. Roth Mkm reissued a “buy” rating and issued a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th. Morgan Stanley reduced their target price on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Gogo Stock Performance

The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 11.25. The company’s fifty day moving average is $7.72 and its 200 day moving average is $8.79. The company has a market cap of $816.01 million, a P/E ratio of 5.82 and a beta of 1.11.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. Gogo’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. As a group, equities analysts predict that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gogo

A number of large investors have recently added to or reduced their stakes in GOGO. Point72 DIFC Ltd purchased a new stake in shares of Gogo in the 2nd quarter worth about $117,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Gogo in the 2nd quarter worth about $107,000. Point72 Asset Management L.P. lifted its position in shares of Gogo by 29.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 30,700 shares of the technology company’s stock worth $295,000 after purchasing an additional 6,900 shares during the period. Algert Global LLC purchased a new stake in shares of Gogo in the 2nd quarter worth about $422,000. Finally, Select Equity Group L.P. purchased a new stake in shares of Gogo in the 2nd quarter worth about $2,764,000. Institutional investors 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.