Gogo (NASDAQ:GOGO) Stock Price Up 6.7% – Should You Buy?

Shares of Gogo Inc. (NASDAQ:GOGO) shot up 6.7% on Tuesday . The stock traded as high as $6.89 and last traded at $7.15. 86,846 shares changed hands during trading, a decline of 92% from the average session volume of 1,034,915 shares. The stock had previously closed at $6.70.

Gogo Stock Performance

The stock has a market cap of $889.89 million, a PE ratio of 16.45 and a beta of 1.01. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The firm has a 50 day moving average of $7.83 and a two-hundred day moving average of $7.59.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in Gogo by 138.4% in the fourth quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock valued at $109,013,000 after acquiring an additional 7,821,973 shares during the last quarter. Nantahala Capital Management LLC grew its stake in Gogo by 441.5% during the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock worth $20,829,000 after buying an additional 2,099,145 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Gogo during the fourth quarter worth approximately $14,147,000. Tenzing Global Management LLC lifted its stake in Gogo by 59.6% in the fourth quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company’s stock valued at $16,787,000 after buying an additional 775,000 shares during the last quarter. Finally, Capco Asset Management LLC lifted its stake in Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock valued at $24,349,000 after buying an additional 544,178 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

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.