Gogo Inc. (NASDAQ:GOGO) Short Interest Update

Gogo Inc. (NASDAQ:GOGO) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 19,080,000 shares, an increase of 13.9% from the October 31st total of 16,750,000 shares. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is currently 15.0 days. Currently, 30.9% of the shares of the stock are sold short.

Hedge Funds Weigh In On Gogo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Gogo by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company’s stock worth $50,470,000 after buying an additional 44,340 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Gogo by 11.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company’s stock valued at $481,000 after acquiring an additional 5,688 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Gogo by 26.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,236 shares of the technology company’s stock worth $485,000 after acquiring an additional 11,505 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Gogo during the 2nd quarter worth approximately $109,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Gogo by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 675,845 shares of the technology company’s stock valued at $6,502,000 after purchasing an additional 24,665 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gogo Trading Down 8.5 %

Shares of Gogo stock traded down $0.69 on Tuesday, hitting $7.41. 2,529,709 shares of the company’s stock traded hands, compared to its average volume of 1,014,910. Gogo has a one year low of $6.17 and a one year high of $11.17. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The stock has a market capitalization of $932.03 million, a PE ratio of 17.23 and a beta of 1.18. The firm’s 50-day moving average price is $7.32 and its two-hundred day moving average price is $8.29.

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.