Gogo (NASDAQ:GOGO) Shares Pass Below 200-Day Moving Average – Time to Sell?
by Sarita Garza · The Markets DailyGogo Inc. (NASDAQ:GOGO – Get Free Report)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.36 and traded as low as $4.45. Gogo shares last traded at $4.48, with a volume of 1,014,593 shares trading hands.
Wall Street Analysts Forecast Growth
GOGO has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Gogo in a report on Monday, December 29th. Morgan Stanley set a $8.00 target price on shares of Gogo in a research note on Friday, January 16th. Finally, William Blair lowered shares of Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.25.
Get Our Latest Research Report on Gogo
Gogo Stock Performance
The firm has a 50 day moving average of $4.57 and a 200-day moving average of $7.36. The company has a market cap of $599.65 million, a P/E ratio of -89.60 and a beta of 1.04. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 7.79.
Insider Activity at Gogo
In other news, insider Oakleigh Thorne purchased 170,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were purchased at an average price of $5.34 per share, for a total transaction of $907,800.00. Following the completion of the purchase, the insider owned 954,098 shares in the company, valued at approximately $5,094,883.32. This represents a 21.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 25.78% of the company’s stock.
Institutional Investors Weigh In On Gogo
Large investors have recently modified their holdings of the business. Fortitude Family Office LLC purchased a new stake in shares of Gogo in the 3rd quarter worth approximately $30,000. State of Wyoming bought a new position in Gogo in the third quarter worth approximately $32,000. Farther Finance Advisors LLC lifted its holdings in Gogo by 91,500.0% during the fourth quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock worth $47,000 after buying an additional 10,065 shares during the period. Stifel Financial Corp purchased a new stake in Gogo during the fourth quarter worth $52,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Gogo during the 4th quarter valued at $54,000. 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.