Gogo (NASDAQ:GOGO) Sees Unusually-High Trading Volume – Still a Buy?

Gogo Inc. (NASDAQ:GOGO) saw unusually-high trading volume on Monday . Approximately 3,452,822 shares changed hands during mid-day trading, an increase of 101% from the previous session’s volume of 1,714,159 shares.The stock last traded at $6.6650 and had previously closed at $7.06.

Analyst Ratings Changes

A number of analysts have recently commented on GOGO shares. Weiss Ratings reissued a “sell (d)” rating on shares of Gogo in a research report on Monday. Morgan Stanley began coverage on Gogo in a research note on Thursday, August 14th. They set an “equal weight” rating and a $15.00 price objective for the company. Finally, William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gogo presently has an average rating of “Hold” and an average target price of $14.83.

Gogo Trading Up 2.7%

The firm has a market capitalization of $750.90 million, a P/E ratio of 11.38 and a beta of 0.89. The company has a current ratio of 1.74, a quick ratio of 1.40 and a debt-to-equity ratio of 7.79. The stock has a 50 day simple moving average of $8.02 and a 200-day simple moving average of $10.98.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.12). The business had revenue of $223.59 million during the quarter, compared to the consensus estimate of $222.23 million. Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.Gogo’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. On average, equities research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Gogo

A number of hedge funds have recently modified their holdings of GOGO. Tudor Investment Corp ET AL raised its holdings in Gogo by 1,095.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 705,968 shares of the technology company’s stock worth $6,064,000 after purchasing an additional 646,894 shares during the period. Hancock Whitney Corp bought a new stake in Gogo during the third quarter valued at about $92,000. CANADA LIFE ASSURANCE Co increased its position in Gogo by 35.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 90,110 shares of the technology company’s stock worth $765,000 after buying an additional 23,734 shares in the last quarter. PharVision Advisers LLC raised its stake in shares of Gogo by 268.4% in the third quarter. PharVision Advisers LLC now owns 42,993 shares of the technology company’s stock worth $369,000 after buying an additional 31,324 shares during the period. Finally, XTX Topco Ltd raised its stake in shares of Gogo by 118.7% in the third quarter. XTX Topco Ltd now owns 151,666 shares of the technology company’s stock worth $1,303,000 after buying an additional 82,314 shares during the period. Institutional investors own 69.60% of the company’s stock.

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.