Gogo (NASDAQ:GOGO) Hits New 12-Month Low – Time to Sell?

Gogo Inc. (NASDAQ:GOGO) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.85 and last traded at $3.8850, with a volume of 691724 shares trading hands. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOGO. William Blair lowered shares of Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a research report on Monday, December 29th. Finally, Morgan Stanley set a $8.00 price objective on Gogo in a report on Friday, January 16th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.25.

Gogo Trading Up 4.5%

The firm has a fifty day moving average price of $4.73 and a 200-day moving average price of $8.00. The company has a market capitalization of $558.15 million, a P/E ratio of -83.40 and a beta of 1.04. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40.

Insider Transactions at Gogo

In related news, insider Oakleigh Thorne acquired 170,000 shares of the stock in a transaction on Friday, December 12th. The shares were acquired at an average price of $5.34 per share, with a total value of $907,800.00. Following the completion of the transaction, the insider owned 954,098 shares in the company, valued at approximately $5,094,883.32. The trade was a 21.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 25.78% of the company’s stock.

Institutional Trading of Gogo

A number of institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC purchased a new position in Gogo in the 4th quarter valued at approximately $31,654,000. Vanguard Group Inc. grew its position in shares of Gogo by 6.3% in the third quarter. Vanguard Group Inc. now owns 6,651,058 shares of the technology company’s stock valued at $57,133,000 after purchasing an additional 396,236 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Gogo by 6.9% during the 3rd quarter. William Blair Investment Management LLC now owns 6,067,663 shares of the technology company’s stock valued at $52,121,000 after purchasing an additional 393,830 shares during the period. LB Partners LLC lifted its holdings in Gogo by 30.0% during the 3rd quarter. LB Partners LLC now owns 3,228,979 shares of the technology company’s stock worth $27,737,000 after purchasing an additional 745,000 shares in the last quarter. Finally, State Street Corp boosted its stake in Gogo by 7.0% in the 4th quarter. State Street Corp now owns 3,136,833 shares of the technology company’s stock worth $14,618,000 after purchasing an additional 204,296 shares during the period. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

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.