Gogo (NASDAQ:GOGO) Hits New 1-Year Low – Should You Sell?

Gogo Inc. (NASDAQ:GOGO) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $3.81 and last traded at $3.9040, with a volume of 143026 shares. The stock had previously closed at $4.07.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOGO. Morgan Stanley cut their price objective on Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday. Weiss Ratings raised Gogo from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Finally, Roth Mkm set a $12.00 price objective on Gogo in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Gogo presently has an average rating of “Hold” and an average price target of $9.50.

Gogo Stock Down 1.6%

The company has a fifty day simple moving average of $4.34 and a 200-day simple moving average of $5.06. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 6.89. The firm has a market cap of $541.64 million, a P/E ratio of 36.50 and a beta of 1.06.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, February 27th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). Gogo had a net margin of 1.54% and a return on equity of 37.53%. The company had revenue of $230.56 million for the quarter, compared to the consensus estimate of $222.65 million. During the same period in the prior year, the firm posted ($0.22) EPS. The business’s revenue for the quarter was up 67.3% on a year-over-year basis. On average, equities analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current year.

Insider Transactions at Gogo

In related news, Director Charles C. Townsend purchased 158,591 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $4.57 per share, with a total value of $724,760.87. Following the completion of the acquisition, the director owned 418,686 shares of the company’s stock, valued at approximately $1,913,395.02. This trade represents a 60.97% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 25.60% of the company’s stock.

Institutional Trading of Gogo

Institutional investors have recently made changes to their positions in the business. LB Partners LLC raised its position in Gogo by 30.0% during the third quarter. LB Partners LLC now owns 3,228,979 shares of the technology company’s stock valued at $27,737,000 after purchasing an additional 745,000 shares during the period. William Blair Investment Management LLC raised its position in Gogo by 6.9% during the third quarter. William Blair Investment Management LLC now owns 6,067,663 shares of the technology company’s stock valued at $52,121,000 after purchasing an additional 393,830 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Gogo during the third quarter valued at approximately $2,345,000. Tudor Investment Corp ET AL raised its position in Gogo by 1,095.1% during the third quarter. Tudor Investment Corp ET AL now owns 705,968 shares of the technology company’s stock valued at $6,064,000 after purchasing an additional 646,894 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Gogo during the third quarter valued at approximately $1,403,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.