Gogo (NASDAQ:GOGO) Shares Gap Down to $7.45

Gogo Inc. (NASDAQ:GOGO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.45, but opened at $7.03. Gogo shares last traded at $7.16, with a volume of 269,302 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price target on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price objective on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Gogo Trading Down 3.1 %

The firm has a market cap of $916.58 million, a price-to-earnings ratio of 6.37 and a beta of 1.11. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. The business has a 50-day moving average of $8.36 and a 200-day moving average of $8.95.

Gogo (NASDAQ:GOGO) last released its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. Gogo had a net margin of 16.59% and a return on equity of 145.01%. Gogo’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. Research analysts anticipate that Gogo Inc. will post 0.35 EPS for the current year.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Gogo during the 2nd quarter worth approximately $107,000. AQR Capital Management LLC bought a new position in shares of Gogo in the second quarter valued at about $108,000. SG Americas Securities LLC acquired a new stake in shares of Gogo during the 2nd quarter worth about $109,000. Point72 DIFC Ltd bought a new stake in shares of Gogo during the 2nd quarter worth about $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Gogo by 67.1% in the 2nd 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 last quarter. 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.