Gogo Inc (NASDAQ:GOGO) was the target of a significant growth in short interest during the month of September. As of September 14th, there was short interest totalling 36,201,243 shares, a growth of 7.6% from the August 31st total of 33,652,678 shares. Based on an average daily trading volume, of 1,285,449 shares, the days-to-cover ratio is presently 28.2 days. Currently, 64.4% of the shares of the stock are sold short.

A number of large investors have recently made changes to their positions in the business. Gabelli Funds LLC raised its holdings in Gogo by 7.7% during the 2nd quarter. Gabelli Funds LLC now owns 1,991,000 shares of the technology company’s stock worth $9,676,000 after purchasing an additional 141,800 shares during the last quarter. Bank of America Corp DE raised its holdings in Gogo by 4.3% during the 2nd quarter. Bank of America Corp DE now owns 1,715,165 shares of the technology company’s stock worth $8,336,000 after purchasing an additional 70,154 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in Gogo by 13.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,209,800 shares of the technology company’s stock worth $5,880,000 after purchasing an additional 139,300 shares during the last quarter. Northern Trust Corp raised its holdings in Gogo by 4.4% during the 2nd quarter. Northern Trust Corp now owns 701,785 shares of the technology company’s stock worth $3,410,000 after purchasing an additional 29,843 shares during the last quarter. Finally, First Midwest Bank Trust Division raised its holdings in Gogo by 477.0% during the 2nd quarter. First Midwest Bank Trust Division now owns 435,931 shares of the technology company’s stock worth $2,118,000 after purchasing an additional 360,384 shares during the last quarter. 67.59% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on GOGO. BidaskClub raised Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. ValuEngine cut Gogo from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Zacks Investment Research raised Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Raymond James cut Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price target for the company. in a report on Tuesday, July 24th. Finally, William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Gogo currently has an average rating of “Hold” and a consensus target price of $8.38.

Gogo stock opened at $5.22 on Thursday. The company has a debt-to-equity ratio of -4.44, a current ratio of 2.01 and a quick ratio of 1.43. Gogo has a 12-month low of $3.52 and a 12-month high of $12.42. The stock has a market capitalization of $462.09 million, a P/E ratio of -2.52 and a beta of 1.40.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.27. The firm had revenue of $227.50 million for the quarter, compared to the consensus estimate of $207.64 million. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.56) earnings per share. sell-side analysts predict that Gogo will post -2.2 EPS for the current fiscal year.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

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