Gogo (NASDAQ:GOGO) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Gogo Inc. (NASDAQ:GOGO) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.83 and traded as low as $6.85. Gogo shares last traded at $7.12, with a volume of 1,152,615 shares changing hands.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and set a $15.50 price target on shares of Gogo in a research report on Tuesday, September 17th.

Gogo Stock Performance

The business’s fifty day simple moving average is $7.84 and its 200-day simple moving average is $7.83. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The company has a market capitalization of $895.55 million, a P/E ratio of 16.56 and a beta of 1.15.

Institutional Trading of Gogo

A number of large investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new position in Gogo during the 3rd quarter valued at about $34,000. Brighton Jones LLC acquired a new stake in shares of Gogo in the third quarter worth $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Gogo in the second quarter worth $107,000. AQR Capital Management LLC purchased a new stake in Gogo during the second quarter worth $108,000. Finally, Point72 DIFC Ltd purchased a new stake in Gogo during the second quarter worth $117,000. 69.60% of the stock is currently owned by institutional investors.

About Gogo

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.