Gogo (NASDAQ:GOGO) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Gogo Inc. (NASDAQ:GOGO)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.29 and traded as low as $3.48. Gogo shares last traded at $3.61, with a volume of 1,609,979 shares trading hands.

Analyst Upgrades and Downgrades

GOGO has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Weiss Ratings raised shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Roth Capital set a $12.00 price target on shares of Gogo in a report on Thursday, May 7th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gogo currently has an average rating of “Reduce” and an average price target of $9.50.

Gogo Trading Up 0.6%

The company has a 50 day moving average of $3.85 and a 200 day moving average of $4.29. The firm has a market cap of $490.92 million, a price-to-earnings ratio of 33.00 and a beta of 1.16. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 6.89.

Hedge Funds Weigh In On Gogo

A number of large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Gogo in the fourth quarter valued at approximately $27,000. PNC Financial Services Group Inc. grew its holdings in Gogo by 310.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company’s stock worth $29,000 after acquiring an additional 5,536 shares during the period. State of Wyoming acquired a new stake in Gogo during the 1st quarter worth $34,000. Farther Finance Advisors LLC raised its position in shares of Gogo by 91,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock valued at $47,000 after acquiring an additional 10,065 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Gogo during the 4th quarter valued at $52,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.