ValuEngine Lowers Gogo (NASDAQ:GOGO) to Strong Sell

ValuEngine lowered shares of Gogo (NASDAQ:GOGO) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Gogo from a hold rating to a sell rating in a research note on Tuesday, February 4th. Zacks Investment Research cut shares of Gogo from a hold rating to a sell rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $6.19.

GOGO stock traded down $0.10 during trading on Tuesday, reaching $5.01. The company had a trading volume of 1,137,460 shares, compared to its average volume of 1,782,597. The firm has a 50-day simple moving average of $5.58 and a 200-day simple moving average of $5.42. The company has a market cap of $446.08 million, a price-to-earnings ratio of -2.21 and a beta of 1.05. Gogo has a twelve month low of $3.58 and a twelve month high of $7.23.

A number of hedge funds and other institutional investors have recently made changes to their positions in GOGO. Bank of America Corp DE lifted its stake in Gogo by 28.7% during the 4th quarter. Bank of America Corp DE now owns 2,713,830 shares of the technology company’s stock valued at $17,369,000 after acquiring an additional 604,611 shares during the period. Tenzing Global Management LLC lifted its stake in Gogo by 34.8% during the 3rd quarter. Tenzing Global Management LLC now owns 2,325,000 shares of the technology company’s stock valued at $14,020,000 after acquiring an additional 600,000 shares during the period. California Public Employees Retirement System lifted its stake in Gogo by 612.2% during the 4th quarter. California Public Employees Retirement System now owns 637,934 shares of the technology company’s stock valued at $4,083,000 after acquiring an additional 548,364 shares during the period. Morgan Stanley lifted its stake in Gogo by 56.7% during the 2nd quarter. Morgan Stanley now owns 1,372,546 shares of the technology company’s stock valued at $5,463,000 after acquiring an additional 496,761 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in Gogo by 17.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,833,239 shares of the technology company’s stock valued at $11,733,000 after acquiring an additional 277,146 shares during the period. Institutional investors and hedge funds own 63.32% of the company’s stock.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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