Gogo Inc (NASDAQ:GOGO) traded down 5.7% on Tuesday . The stock traded as low as $3.77 and last traded at $3.81, 2,274,015 shares were traded during mid-day trading. An increase of 50% from the average session volume of 1,518,596 shares. The stock had previously closed at $4.04.

Several equities research analysts have weighed in on the company. William Blair upgraded Gogo from a “market perform” rating to an “outperform” rating in a report on Friday, May 10th. BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a report on Monday. Zacks Investment Research cut Gogo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Roth Capital started coverage on Gogo in a research note on Monday, May 13th. They issued a “buy” rating and a $10.00 target price for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.75.

The company has a market cap of $335.54 million, a PE ratio of -2.08 and a beta of 0.97. The stock has a 50 day moving average price of $4.27 and a 200 day moving average price of $4.57.

Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, August 8th. The technology company reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.12. The firm had revenue of $213.70 million during the quarter, compared to analysts’ expectations of $199.62 million. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) EPS. As a group, research analysts predict that Gogo Inc will post -1.83 earnings per share for the current fiscal year.

In other news, Director Charles C. Townsend bought 100,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $4.43 per share, for a total transaction of $443,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 41.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOGO. Kavar Capital Partners LLC bought a new position in Gogo during the 2nd quarter valued at approximately $25,000. Aperio Group LLC bought a new position in Gogo during the 2nd quarter valued at approximately $40,000. Coatue Management LLC bought a new position in Gogo during the 2nd quarter valued at approximately $44,000. Walleye Trading Advisors LLC bought a new position in Gogo during the 2nd quarter valued at approximately $44,000. Finally, Metropolitan Life Insurance Co NY bought a new position in Gogo during the 1st quarter valued at approximately $73,000. Institutional investors own 60.12% of the company’s stock.

Gogo Company Profile (NASDAQ:GOGO)

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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