Gogo (NASDAQ:GOGO) Shares Up 9.8% – What’s Next?

Shares of Gogo Inc. (NASDAQ:GOGO) traded up 9.8% on Wednesday . The stock traded as high as $7.99 and last traded at $7.97. 301,866 shares traded hands during trading, a decline of 67% from the average session volume of 916,025 shares. The stock had previously closed at $7.26.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and issued a $15.50 price objective on shares of Gogo in a research note on Tuesday, September 17th.

Gogo Stock Up 8.3 %

The firm has a market cap of $988.62 million, a PE ratio of 18.28 and a beta of 1.15. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The stock has a fifty day simple moving average of $7.82 and a two-hundred day simple moving average of $7.81.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Gogo during the third quarter valued at $169,000. Barclays PLC raised its holdings in shares of Gogo by 357.5% in the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after acquiring an additional 85,925 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Gogo by 102.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 29,037 shares of the technology company’s stock valued at $208,000 after acquiring an additional 14,718 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Gogo during the third quarter worth about $3,031,000. Finally, State Street Corp increased its position in shares of Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock worth $17,675,000 after purchasing an additional 51,681 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other 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.