Gogo (NASDAQ:GOGO) Shares Up 3.8% – What’s Next?

Gogo Inc. (NASDAQ:GOGO)’s share price shot up 3.8% during trading on Tuesday . The company traded as high as $6.76 and last traded at $6.72. 510,637 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,062,952 shares. The stock had previously closed at $6.47.

Wall Street Analyst Weigh In

A number of research firms have commented on GOGO. Roth Mkm decreased their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday.

Gogo Price Performance

The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The company has a market capitalization of $872.28 million, a P/E ratio of 16.11 and a beta of 1.01. The business has a 50 day simple moving average of $7.75 and a 200-day simple moving average of $7.56.

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

Institutional Investors Weigh In On Gogo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Gogo by 138.4% during the fourth 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 in the last quarter. Capco Asset Management LLC raised its stake in shares of Gogo by 22.1% during the fourth 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 in the last quarter. Nantahala Capital Management LLC raised its stake in shares of Gogo by 441.5% during the fourth 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 in the last quarter. State Street Corp raised its stake in shares of Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Gogo by 15.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock valued at $19,613,000 after purchasing an additional 330,961 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors.

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.