Gogo (NASDAQ:GOGO) Stock Price Up 3.3%

Gogo Inc. (NASDAQ:GOGO) traded up 3.3% on Wednesday . The stock traded as high as $8.34 and last traded at $8.22. 75,742 shares were traded during mid-day trading, a decline of 92% from the average session volume of 893,266 shares. The stock had previously closed at $7.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley cut their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

Gogo Price Performance

The stock has a fifty day moving average of $8.59 and a 200 day moving average of $9.01. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 6.92 and a beta of 1.13. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a net margin of 16.59% and a return on equity of 145.01%. The business had revenue of $102.10 million during the quarter, compared to analysts’ expectations of $99.02 million. During the same period last year, the company earned $0.20 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. On average, analysts expect that Gogo Inc. will post 0.33 EPS for the current fiscal year.

Institutional Trading of Gogo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Gogo during the second quarter worth approximately $107,000. AQR Capital Management LLC purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $108,000. SG Americas Securities LLC purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $109,000. Point72 DIFC Ltd acquired a new stake in Gogo in the 2nd quarter valued at $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Gogo by 67.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock worth $166,000 after acquiring an additional 6,941 shares in the last quarter. Institutional investors and hedge funds 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.