MYDA Advisors LLC Takes Position in Gogo Inc. $GOGO

MYDA Advisors LLC acquired a new stake in shares of Gogo Inc. (NASDAQ:GOGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 170,000 shares of the technology company’s stock, valued at approximately $792,000. MYDA Advisors LLC owned 0.13% of Gogo at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOGO. Nantahala Capital Management LLC bought a new stake in shares of Gogo during the 4th quarter valued at $31,654,000. Two Sigma Investments LP grew its position in shares of Gogo by 512.6% during the 3rd quarter. Two Sigma Investments LP now owns 1,218,005 shares of the technology company’s stock valued at $10,463,000 after acquiring an additional 1,019,195 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Gogo by 403.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,137,602 shares of the technology company’s stock valued at $5,301,000 after acquiring an additional 911,657 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Gogo during the 3rd quarter valued at $6,760,000. Finally, Bank of America Corp DE grew its position in shares of Gogo by 152.6% during the 3rd quarter. Bank of America Corp DE now owns 1,210,907 shares of the technology company’s stock valued at $10,402,000 after acquiring an additional 731,603 shares during the period. Institutional investors own 69.60% of the company’s stock.

Analysts Set New Price Targets

GOGO has been the subject of several recent analyst reports. Weiss Ratings raised shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Roth Mkm set a $12.00 target price on shares of Gogo in a report on Thursday, May 7th. Finally, Morgan Stanley dropped their target price on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.50.

Gogo Stock Performance

Shares of Gogo stock opened at $3.66 on Monday. The company has a market capitalization of $494.98 million, a P/E ratio of 33.27 and a beta of 1.09. The company has a debt-to-equity ratio of 6.89, a quick ratio of 1.27 and a current ratio of 1.66. The company has a fifty day moving average of $4.24 and a 200 day moving average of $4.65. Gogo Inc. has a fifty-two week low of $3.29 and a fifty-two week high of $16.82.

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.