Short Interest in Gogo Inc. (NASDAQ:GOGO) Grows By 8.2%

Gogo Inc. (NASDAQ:GOGO - Get Free Report) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 20,450,000 shares, a growth of 8.2% from the November 30th total of 18,900,000 shares. Approximately 33.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is presently 14.8 days.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Roth Mkm restated a "buy" rating and set a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th. Morgan Stanley cut their price objective on Gogo from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, September 3rd.

Gogo Price Performance

NASDAQ:GOGO traded up $0.50 during midday trading on Wednesday, hitting $8.09. The company had a trading volume of 1,315,955 shares, compared to its average volume of 1,024,225. The company has a market capitalization of $1.02 billion, a PE ratio of 18.81 and a beta of 1.18. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. Gogo has a 52-week low of $6.17 and a 52-week high of $11.17. The stock's fifty day moving average price is $7.72 and its 200-day moving average price is $7.93.

Hedge Funds Weigh In On Gogo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Select Equity Group L.P. purchased a new stake in shares of Gogo in the 2nd quarter valued at $2,764,000. LB Partners LLC boosted its position in Gogo by 12.4% during the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company's stock valued at $14,683,000 after buying an additional 225,000 shares during the period. State Street Corp grew its stake in shares of Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company's stock valued at $17,675,000 after buying an additional 51,681 shares during the last quarter. FMR LLC grew its stake in shares of Gogo by 13.5% during the third quarter. FMR LLC now owns 5,653,036 shares of the technology company's stock valued at $40,589,000 after buying an additional 673,315 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Gogo by 19.0% in the second quarter. Millennium Management LLC now owns 814,833 shares of the technology company's stock worth $7,839,000 after buying an additional 130,344 shares during the period. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

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.