Gogo (NASDAQ:GOGO) Hits New 52-Week Low – What’s Next?

Gogo Inc. (NASDAQ:GOGO)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.94 and last traded at $5.0950, with a volume of 1285193 shares trading hands. The stock had previously closed at $5.09.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. William Blair downgraded shares of Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.83.

Gogo Stock Performance

The firm’s fifty day simple moving average is $7.73 and its 200 day simple moving average is $10.82. The company has a market capitalization of $617.72 million, a PE ratio of -92.30 and a beta of 0.89. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.12). The company had revenue of $223.59 million during the quarter, compared to analyst estimates of $222.23 million. Gogo had a negative net margin of 0.65% and a positive return on equity of 71.74%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period last year, the firm earned $0.08 EPS. On average, research analysts predict that Gogo Inc. will post 0.41 EPS for the current year.

Insider Buying and Selling at Gogo

In other news, insider Oakleigh Thorne bought 170,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average cost of $5.34 per share, for a total transaction of $907,800.00. Following the purchase, the insider directly owned 954,098 shares in the company, valued at approximately $5,094,883.32. This trade represents a 21.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GOGO. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Gogo by 8.1% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 13,877 shares of the technology company’s stock worth $204,000 after purchasing an additional 1,034 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Gogo by 8.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,357 shares of the technology company’s stock valued at $225,000 after buying an additional 1,210 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Gogo by 9.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,063 shares of the technology company’s stock worth $221,000 after buying an additional 1,340 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Gogo by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,934 shares of the technology company’s stock valued at $381,000 after buying an additional 1,597 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Gogo by 5.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 37,555 shares of the technology company’s stock valued at $322,000 after acquiring an additional 1,815 shares during the period. 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.