Gogo (NASDAQ:GOGO) Stock Rating Lowered by StockNews.com

Gogo (NASDAQ:GOGO) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Separately, Roth Mkm decreased their target price on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday.

Gogo Stock Performance

Shares of Gogo stock traded down $0.39 during trading hours on Monday, reaching $6.47. The company’s stock had a trading volume of 2,583,815 shares, compared to its average volume of 1,064,604. The company’s 50 day simple moving average is $7.75 and its 200 day simple moving average is $7.56. The stock has a market cap of $813.79 million, a P/E ratio of 15.05 and a beta of 1.01. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo has a one year low of $6.17 and a one year high of $11.00.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, analysts expect that Gogo will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Royce & Associates LP increased its stake in Gogo by 39.4% during the third quarter. Royce & Associates LP now owns 123,910 shares of the technology company’s stock valued at $890,000 after acquiring an additional 35,025 shares during the period. Quest Partners LLC bought a new stake in Gogo in the 3rd quarter valued at $158,000. Intech Investment Management LLC acquired a new position in shares of Gogo in the 3rd quarter valued at $740,000. Charles Schwab Investment Management Inc. raised its stake in shares of Gogo by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after buying an additional 3,181 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Gogo by 174.4% during the 3rd quarter. Algert Global LLC now owns 120,500 shares of the technology company’s stock worth $865,000 after acquiring an additional 76,590 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.