Gogo (NASDAQ:GOGO) Reaches New 12-Month Low – Should You Sell?

Shares of Gogo Inc. (NASDAQ:GOGO) hit a new 52-week low on Friday . The stock traded as low as $3.81 and last traded at $3.8050, with a volume of 1382711 shares trading hands. The stock had previously closed at $4.12.

Analyst Ratings Changes

Several brokerages recently commented on GOGO. Morgan Stanley decreased their target price on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Weiss Ratings upgraded shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Roth Mkm set a $12.00 target price on shares of Gogo in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.50.

Gogo Trading Down 8.0%

The firm has a market cap of $512.56 million, a P/E ratio of 34.45 and a beta of 1.09. The firm’s fifty day moving average is $4.32 and its two-hundred day moving average is $4.79. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 6.89.

Insider Buying and Selling at Gogo

In related news, Director Charles C. Townsend purchased 158,591 shares of Gogo stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $4.57 per share, for a total transaction of $724,760.87. Following the completion of the transaction, the director directly owned 418,686 shares of the company’s stock, valued at $1,913,395.02. This represents a 60.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 25.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gogo during the fourth quarter valued at approximately $27,000. PNC Financial Services Group Inc. raised its holdings in Gogo by 310.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company’s stock worth $29,000 after purchasing an additional 5,536 shares in the last quarter. State of Wyoming purchased a new position in Gogo during the third quarter valued at $32,000. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 10,065 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Gogo in the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Gogo

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.