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

Gogo Inc. (NASDAQ:GOGO)’s share price passed 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 changing hands.

Analyst Ratings Changes

GOGO has been the subject of several research reports. Morgan Stanley cut their target price on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Weiss Ratings upgraded 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 price target on Gogo in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.50.

Gogo Price Performance

The firm has a fifty day moving average of $4.24 and a two-hundred day moving average of $4.66. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 6.89. The company has a market capitalization of $494.98 million, a PE ratio of 33.27 and a beta of 1.09.

Institutional Trading of Gogo

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Gogo by 244.1% in the first quarter. Bank of America Corp DE now owns 5,340,615 shares of the technology company’s stock worth $21,469,000 after purchasing an additional 3,788,659 shares during the last quarter. Amundi increased its stake in shares of Gogo by 121.2% in the first quarter. Amundi now owns 41,845 shares of the technology company’s stock worth $168,000 after buying an additional 22,931 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Gogo by 199.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 486,820 shares of the technology company’s stock valued at $1,957,000 after buying an additional 324,237 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Gogo by 31.4% during the 1st quarter. Renaissance Technologies LLC now owns 966,674 shares of the technology company’s stock valued at $3,886,000 after buying an additional 230,800 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in Gogo by 28.5% during the 1st quarter. Gabelli Funds LLC now owns 120,300 shares of the technology company’s stock valued at $484,000 after buying an additional 26,700 shares during the period. 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.