Gogo (NASDAQ:GOGO) Shares Cross Below 200 Day Moving Average – Time to Sell?

Gogo Inc. (NASDAQ:GOGO) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.66 and traded as low as $3.49. Gogo shares last traded at $3.66, with a volume of 2,287,322 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Roth Mkm set a $12.00 price target on shares of Gogo in a research report on Thursday, May 7th. Finally, Morgan Stanley dropped their price target 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. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.50.

Gogo Trading Up 0.5%

The company has a debt-to-equity ratio of 6.89, a current ratio of 1.66 and a quick ratio of 1.27. The stock has a market cap of $494.98 million, a P/E ratio of 33.27 and a beta of 1.09. The firm’s fifty day moving average price is $4.24 and its two-hundred day moving average price is $4.66.

Institutional Trading of Gogo

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Gogo during the fourth quarter worth about $27,000. PNC Financial Services Group Inc. raised its stake 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 valued at $29,000 after purchasing an additional 5,536 shares in the last quarter. State of Wyoming bought a new stake in Gogo during the third quarter valued at approximately $32,000. Farther Finance Advisors LLC lifted its position in Gogo by 91,500.0% during the fourth quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock valued at $47,000 after purchasing an additional 10,065 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in Gogo in the 4th quarter worth approximately $52,000. 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.