Gogo (NASDAQ:GOGO) Trading 3.2% Higher

Shares of Gogo Inc. (NASDAQ:GOGO) shot up 3.2% on Tuesday . The company traded as high as $8.27 and last traded at $8.15. 131,223 shares changed hands during trading, a decline of 85% from the average session volume of 898,944 shares. The stock had previously closed at $7.90.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their target price on 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 quick ratio of 3.33, a current ratio of 4.20 and a debt-to-equity ratio of 9.39. The stock has a market cap of $1.03 billion, a P/E ratio of 6.75 and a beta of 1.13. The company’s 50 day moving average price is $8.78 and its 200-day moving average price is $9.10.

Gogo (NASDAQ:GOGO) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a return on equity of 229.65% and a net margin of 38.61%. The company had revenue of $102.10 million for the quarter, compared to the consensus estimate of $99.02 million. During the same period in the prior year, the business earned $0.20 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Gogo Inc. will post 0.35 earnings per share for the current year.

Institutional Trading of Gogo

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gogo during the 2nd quarter worth about $107,000. AQR Capital Management LLC bought a new stake in shares of Gogo during the 2nd quarter valued at about $108,000. SG Americas Securities LLC acquired a new stake in Gogo during the second quarter worth approximately $109,000. Point72 DIFC Ltd bought a new stake in Gogo in the second quarter worth approximately $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gogo by 67.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock valued at $166,000 after buying an additional 6,941 shares during the period. 69.60% of the stock is currently owned by institutional investors.

About Gogo

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.