Gogo (NASDAQ:GOGO) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Gogo Inc. (NASDAQ:GOGO) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.85 and traded as low as $4.72. Gogo shares last traded at $4.83, with a volume of 1,082,266 shares.

Wall Street Analyst Weigh In

GOGO has been the subject of a number of research reports. Morgan Stanley set a $8.00 price objective on Gogo in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Gogo in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Gogo has a consensus rating of “Hold” and an average price target of $12.25.

Gogo Stock Up 2.7%

The company has a current ratio of 1.60, a quick ratio of 1.24 and a debt-to-equity ratio of 8.24. The firm has a 50 day moving average price of $4.44 and a 200-day moving average price of $5.82. The firm has a market cap of $668.01 million, a price-to-earnings ratio of 49.60 and a beta of 1.12.

Gogo (NASDAQ:GOGO) last announced 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 1.42% and a return on equity of 55.95%. The business had revenue of $230.56 million during the quarter, compared to analysts’ expectations of $222.65 million. During the same period last year, the company earned ($0.22) EPS. The firm’s revenue for the quarter was up 67.3% on a year-over-year basis. On average, equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

Insider Activity

In related news, Director Charles C. Townsend acquired 158,591 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $4.57 per share, for a total transaction of $724,760.87. Following the transaction, the director owned 418,686 shares in the company, valued at $1,913,395.02. This trade represents a 60.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 25.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in Gogo in the third quarter valued at $30,000. State of Wyoming purchased a new position in Gogo in the third quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gogo in the fourth quarter worth $27,000. Quarry LP boosted its position in Gogo by 86.1% during the 3rd quarter. Quarry LP now owns 7,171 shares of the technology company’s stock worth $62,000 after purchasing an additional 3,318 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Gogo by 300.1% in the second quarter. Tower Research Capital LLC TRC now owns 8,163 shares of the technology company’s stock valued at $120,000 after purchasing an additional 6,123 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.