Gogo (NASDAQ:GOGO) Trading 4.1% Higher – Should You Buy?

Gogo Inc. (NASDAQ:GOGO)’s share price shot up 4.1% during trading on Tuesday . The company traded as high as $7.97 and last traded at $7.90. 138,949 shares were traded during trading, a decline of 86% from the average session volume of 1,019,239 shares. The stock had previously closed at $7.59.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reissued a “buy” rating and issued a $15.50 price objective on shares of Gogo in a research note on Tuesday, September 17th.

Gogo Stock Performance

The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The stock’s 50 day moving average is $7.72 and its 200 day moving average is $7.93. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.81 and a beta of 1.18.

Institutional Investors Weigh In On Gogo

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOGO. Virtu Financial LLC acquired a new stake in shares of Gogo during the 3rd quarter worth approximately $169,000. Barclays PLC raised its holdings in shares of Gogo by 357.5% during the third quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after buying an additional 85,925 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Gogo by 102.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,037 shares of the technology company’s stock worth $208,000 after buying an additional 14,718 shares during the period. Weiss Asset Management LP acquired a new stake in Gogo in the 3rd quarter valued at approximately $3,031,000. Finally, State Street Corp grew its stake in shares of Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock worth $17,675,000 after purchasing an additional 51,681 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.