Gogo (NASDAQ:GOGO) Stock Moved Down to “Sell” by Wall Street Zen

Wall Street Zen cut shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

GOGO has been the subject of several other reports. Roth Capital restated a “buy” rating on shares of Gogo in a report on Friday, August 7th. Zacks Research raised shares of Gogo from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Weiss Ratings cut shares of Gogo from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.50.

Gogo Price Performance

Shares of GOGO stock opened at $2.17 on Friday. The company has a debt-to-equity ratio of 6.74, a quick ratio of 1.21 and a current ratio of 1.73. Gogo has a fifty-two week low of $1.96 and a fifty-two week high of $9.93. The firm has a market cap of $294.06 million, a P/E ratio of 217.00 and a beta of 1.22. The business’s 50 day moving average price is $2.43 and its 200-day moving average price is $3.40.

Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, August 6th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The business had revenue of $222.81 million for the quarter, compared to the consensus estimate of $229.35 million. During the same quarter in the prior year, the company earned $0.09 EPS. Gogo’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Gogo will post 0.03 earnings per share for the current year.

Institutional Trading of Gogo

A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd increased its stake in Gogo by 43.0% during the 2nd quarter. WINTON GROUP Ltd now owns 44,900 shares of the technology company’s stock valued at $139,000 after purchasing an additional 13,500 shares in the last quarter. Engineers Gate Manager LP raised its holdings in Gogo by 10.8% in the second quarter. Engineers Gate Manager LP now owns 54,316 shares of the technology company’s stock worth $168,000 after buying an additional 5,282 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Gogo in the second quarter worth approximately $174,000. Corient Private Wealth LP bought a new position in shares of Gogo in the second quarter worth approximately $172,000. Finally, Amundi lifted its stake in shares of Gogo by 59.9% in the second quarter. Amundi now owns 66,931 shares of the technology company’s stock worth $207,000 after buying an additional 25,086 shares in the last quarter. 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.