Gogo (NASDAQ:GOGO) Trading Down 3.3% – Time to Sell?

Gogo Inc. (NASDAQ:GOGO) dropped 3.3% during trading on Monday . The stock traded as low as $7.91 and last traded at $7.97. Approximately 73,986 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 526,520 shares. The stock had previously closed at $8.24.

Analysts Set New Price Targets

Separately, Roth Mkm reissued a “buy” rating and issued a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th.

Gogo Stock Performance

The business’s 50 day simple moving average is $7.78 and its two-hundred day simple moving average is $7.88. The firm has a market capitalization of $954.66 million, a PE ratio of 17.65 and a beta of 1.15. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07.

Institutional Trading of Gogo

A number of hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of Gogo during the 3rd quarter valued at about $34,000. Brighton Jones LLC bought a new stake in Gogo during the third quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Gogo during the second quarter valued at approximately $107,000. AQR Capital Management LLC bought a new position in Gogo in the second quarter worth approximately $108,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Gogo during the 2nd quarter worth $117,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.