Gogo (NASDAQ:GOGO) Trading Down 3.3% – Should You Sell?

Shares of Gogo Inc. (NASDAQ:GOGO) fell 3.3% during mid-day trading on Friday . The company traded as low as $7.93 and last traded at $8.01. 74,777 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,004,473 shares. The stock had previously closed at $8.28.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Roth Mkm restated a “buy” rating and set a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th. Morgan Stanley dropped their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

Gogo Price Performance

The company’s 50-day simple moving average is $7.16 and its 200 day simple moving average is $8.43. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.88 and a beta of 1.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GOGO. nVerses Capital LLC bought a new position in shares of Gogo in the third quarter valued at approximately $34,000. Brighton Jones LLC acquired a new position in Gogo during the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gogo during the second quarter worth about $107,000. AQR Capital Management LLC acquired a new position in Gogo in the second quarter worth about $108,000. Finally, SG Americas Securities LLC acquired a new position in Gogo during the second quarter worth $109,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

About Gogo

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.