Gogo (NASDAQ:GOGO) Shares Down 3.8% - Time to Sell?

Gogo Inc. (NASDAQ:GOGO - Get Free Report)'s stock price traded down 3.8% on Friday . The company traded as low as $7.01 and last traded at $7.01. 542,880 shares were traded during trading, a decline of 42% from the average session volume of 933,791 shares. The stock had previously closed at $7.29.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Roth Mkm reaffirmed a "buy" rating and set a $15.50 price objective on shares of Gogo in a research report on Tuesday, September 17th. Morgan Stanley lowered their price objective on shares of Gogo from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Gogo from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th.

Gogo Price Performance

The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95. The stock has a market cap of $889.74 million, a PE ratio of 5.98 and a beta of 1.09. The stock's 50-day moving average is $7.24 and its two-hundred day moving average is $8.64.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a net margin of 16.59% and a return on equity of 145.01%. The business had revenue of $102.10 million during the quarter, compared to analysts' expectations of $99.02 million. During the same period in the prior year, the business earned $0.20 EPS. The business's quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts predict that Gogo Inc. will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Gogo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOGO. Burgundy Asset Management Ltd. boosted its position in Gogo by 27.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 3,064,421 shares of the technology company's stock valued at $26,906,000 after buying an additional 664,803 shares during the period. LB Partners LLC boosted its position in Gogo by 31.0% in the 1st quarter. LB Partners LLC now owns 1,895,606 shares of the technology company's stock valued at $16,643,000 after buying an additional 448,918 shares during the period. Select Equity Group L.P. purchased a new position in Gogo in the 2nd quarter valued at approximately $2,764,000. William Blair Investment Management LLC raised its holdings in shares of Gogo by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company's stock valued at $19,949,000 after purchasing an additional 152,338 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Gogo by 19.0% in the 2nd quarter. Millennium Management LLC now owns 814,833 shares of the technology company's stock valued at $7,839,000 after purchasing an additional 130,344 shares in the last quarter. 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.