Gogo (NASDAQ:GOGO) Shares Up 3.6%

Gogo Inc. (NASDAQ:GOGO)’s stock price was up 3.6% during trading on Tuesday . The stock traded as high as $9.74 and last traded at $9.73. Approximately 75,155 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 879,776 shares. The stock had previously closed at $9.39.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut their price target on Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.30.

Gogo Price Performance

The firm’s fifty day simple moving average is $9.88 and its 200 day simple moving average is $9.30. The firm has a market cap of $1.24 billion, a P/E ratio of 8.36 and a beta of 1.13. The company has a debt-to-equity ratio of 9.39, a quick ratio of 3.33 and a current ratio of 4.20.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. Gogo had a net margin of 38.61% and a return on equity of 229.65%. The business had revenue of $104.32 million during the quarter, compared to the consensus estimate of $96.62 million. As a group, analysts forecast that Gogo Inc. will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teza Capital Management LLC bought a new position in shares of Gogo during the 3rd quarter valued at about $158,000. Ballentine Partners LLC bought a new position in shares of Gogo in the 4th quarter valued at about $140,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Gogo in the 4th quarter valued at about $203,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Gogo by 12.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock valued at $187,000 after acquiring an additional 2,390 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Gogo in the 1st quarter valued at about $221,000. 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.