Shares of Gogo Inc. (NASDAQ:GOGO) traded down 3.7% during mid-day trading on Monday . The stock traded as low as $8.44 and last traded at $8.51, with a volume of 619,096 shares trading hands. The stock had previously closed at $8.84.

Several analysts recently issued reports on the stock. Standpoint Research began coverage on shares of Gogo in a research note on Thursday, June 23rd. They set a “buy” rating and a $14.00 price objective for the company. Dougherty & Co dropped their price target on shares of Gogo from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, June 15th. William Blair reissued a “buy” rating on shares of Gogo in a research note on Monday, June 6th. Finally, Zacks Investment Research cut shares of Gogo from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Gogo presently has a consensus rating of “Hold” and a consensus target price of $13.00.

The company’s market capitalization is $734.06 million. The firm has a 50-day moving average price of $8.95 and a 200-day moving average price of $11.24.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, May 6th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.11. The business had revenue of $141.70 million for the quarter, compared to the consensus estimate of $138.04 million. During the same period in the previous year, the company earned ($0.24) EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities analysts expect that Gogo Inc. will post ($1.44) earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have added to or reduced their stakes in GOGO. California State Teachers Retirement System raised its position in Gogo by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 104,072 shares of the company’s stock worth $1,852,000 after buying an additional 1,768 shares during the last quarter. New York State Common Retirement Fund increased its position in Gogo by 21.4% in the fourth quarter. New York State Common Retirement Fund now owns 280,565 shares of the company’s stock worth $4,994,000 after buying an additional 49,519 shares during the period. Gamco Investors INC. ET AL increased its position in Gogo by 9.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 680,322 shares of the company’s stock worth $12,110,000 after buying an additional 56,500 shares during the period. Whitebox Advisors LLC increased its position in Gogo by 26.9% in the fourth quarter. Whitebox Advisors LLC now owns 81,776 shares of the company’s stock worth $1,456,000 after buying an additional 17,351 shares during the period. Finally, Hodges Capital Management Inc. increased its position in Gogo by 13.4% in the fourth quarter. Hodges Capital Management Inc. now owns 1,950,115 shares of the company’s stock worth $34,712,000 after buying an additional 230,640 shares during the period.

Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).

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