Gogo (GOGO) Shares Down 8.1%

Gogo Inc (NASDAQ:GOGO)’s share price traded down 8.1% during trading on Thursday . The stock traded as low as $6.79 and last traded at $6.36. 180,307 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 2,241,085 shares. The stock had previously closed at $6.92.

Several equities analysts have commented on the company. Northland Securities set a $2.00 price objective on Gogo and gave the company a “sell” rating in a research report on Tuesday. ValuEngine raised Gogo from a “hold” rating to a “buy” rating in a research report on Tuesday. BidaskClub downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research raised Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Raymond James downgraded Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price target on the stock. in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.50.

The stock has a market capitalization of $605.21 million, a PE ratio of -2.85 and a beta of 0.82.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.24. The firm had revenue of $217.26 million for the quarter, compared to the consensus estimate of $212.01 million. During the same period in the previous year, the company posted ($0.57) EPS. Gogo’s quarterly revenue was up 25.7% compared to the same quarter last year. As a group, equities analysts forecast that Gogo Inc will post -2.1 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Elk Creek Partners LLC lifted its stake in shares of Gogo by 77.0% during the 3rd quarter. Elk Creek Partners LLC now owns 3,347,481 shares of the technology company’s stock worth $17,373,000 after purchasing an additional 1,455,879 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of 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 lifted its stake in shares of 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 lifted its stake in shares of Gogo by 14.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,379,200 shares of the technology company’s stock worth $7,158,000 after purchasing an additional 169,400 shares during the last quarter. Finally, S. Muoio & CO. LLC lifted its stake in shares of Gogo by 481.0% during the 3rd quarter. S. Muoio & CO. LLC now owns 822,330 shares of the technology company’s stock worth $4,268,000 after purchasing an additional 680,800 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors and hedge funds.

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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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