Gogo Inc (NASDAQ:GOGO) shares traded up 8% during trading on Wednesday . The company traded as high as $4.66 and last traded at $4.54. 2,636,392 shares were traded during mid-day trading, an increase of 53% from the average session volume of 1,722,473 shares. The stock had previously closed at $4.21.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Gogo from a “buy” rating to a “hold” rating in a research report on Wednesday. Northland Securities set a $2.00 target price on shares of Gogo and gave the company a “sell” rating in a research report on Tuesday, November 6th. ValuEngine raised shares of Gogo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Finally, BidaskClub downgraded shares of Gogo from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.30.

The stock has a market cap of $416.30 million, a P/E ratio of -2.09 and a beta of 0.82.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.24. The business had revenue of $217.26 million for the quarter, compared to analysts’ expectations of $212.01 million. During the same period in the previous year, the business posted ($0.57) earnings per share. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, sell-side analysts expect that Gogo Inc will post -2.08 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Morgan Stanley grew its position in Gogo by 220.8% during the 3rd quarter. Morgan Stanley now owns 545,784 shares of the technology company’s stock worth $2,832,000 after purchasing an additional 375,640 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Gogo by 7.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 449,894 shares of the technology company’s stock worth $2,335,000 after purchasing an additional 31,817 shares during the last quarter. Teachers Advisors LLC grew its position in Gogo by 33.6% during the 3rd quarter. Teachers Advisors LLC now owns 373,014 shares of the technology company’s stock worth $1,936,000 after purchasing an additional 93,763 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Gogo by 56.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 42,843 shares of the technology company’s stock worth $222,000 after purchasing an additional 15,424 shares during the last quarter. Finally, Valinor Management L.P. grew its position in Gogo by 33.7% during the 3rd quarter. Valinor Management L.P. now owns 4,345,379 shares of the technology company’s stock worth $22,552,000 after purchasing an additional 1,094,407 shares during the last quarter. 66.68% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This story was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.dailypolitical.com/2018/11/21/gogo-gogo-trading-8-higher.html.

Gogo Company Profile (NASDAQ:GOGO)

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

Read More: What is systematic risk?

Receive News & Ratings for Gogo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo and related companies with MarketBeat.com's FREE daily email newsletter.