Gogo (NASDAQ:GOGO) Sees Unusually-High Trading Volume – Should You Buy?

Gogo Inc. (NASDAQ:GOGO) saw unusually-high trading volume on Friday. 21,659,993 shares changed hands during mid-day trading, an increase of 1,005% from the average daily volume of 1,961,060 shares. The stock last traded at $3.7390 and had previously closed at $2.27.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GOGO shares. Wall Street Zen lowered shares of Gogo from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Weiss Ratings downgraded shares of Gogo from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Zacks Research raised shares of Gogo from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Roth Capital reiterated a “buy” rating on shares of Gogo in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Gogo presently has a consensus rating of “Hold” and an average target price of $8.50.

Gogo Stock Up 70.9%

The stock has a fifty day moving average of $2.40 and a 200 day moving average of $3.62. The company has a debt-to-equity ratio of 6.74, a current ratio of 1.73 and a quick ratio of 1.21. The firm has a market capitalization of $525.78 million, a P/E ratio of 388.00 and a beta of 1.26.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Friday, November 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The business had revenue of $213.23 million during the quarter, compared to the consensus estimate of $216.52 million. During the same quarter last year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts anticipate that Gogo Inc. will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Gogo

Institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC purchased a new position in shares of Gogo in the second quarter worth about $26,962,966. BlackRock Inc. purchased a new stake in shares of Gogo during the 2nd quarter valued at approximately $18,984,000. Bank of America Corp DE bought a new position in Gogo in the 2nd quarter worth approximately $16,029,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Gogo in the 2nd quarter worth approximately $2,193,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Gogo by 199.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 486,820 shares of the technology company’s stock worth $1,957,000 after buying an additional 324,237 shares during the period. Institutional investors own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc is an aviation connectivity and broadband services company that provides internet access, entertainment, and communications solutions for business and commercial aircraft. Its offerings are designed to help passengers and flight crews stay connected while in the air through a combination of air-to-ground and satellite-based technologies.

Gogo’s business aviation portfolio includes the AVANCE connectivity platform, which supports in-flight Wi-Fi and related services, as well as equipment, software, and network management solutions for private and business aircraft.