Gogo (NASDAQ:GOGO) Stock Rating Lowered by Wall Street Zen

Gogo (NASDAQ:GOGO) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Weiss Ratings cut Gogo from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Roth Capital restated a “buy” rating on shares of Gogo in a research report on Friday, August 7th. Finally, Zacks Research upgraded Gogo from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Gogo has an average rating of “Hold” and a consensus target price of $8.50.

Gogo Stock Performance

NASDAQ GOGO opened at $2.17 on Friday. The company has a debt-to-equity ratio of 6.74, a quick ratio of 1.21 and a current ratio of 1.73. Gogo has a one year low of $1.96 and a one year high of $9.93. The company has a 50-day simple moving average of $2.43 and a 200-day simple moving average of $3.39. The firm has a market capitalization of $294.06 million, a PE ratio of 217.00 and a beta of 1.22.

Gogo (NASDAQ:GOGO) last issued its earnings results on Thursday, August 6th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Gogo had a positive return on equity of 22.55% and a negative net margin of 0.09%. The business had revenue of $222.81 million during the quarter, compared to the consensus estimate of $229.35 million. During the same period in the prior year, the business earned $0.09 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Gogo will post 0.03 earnings per share for the current year.

Institutional Trading of Gogo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd boosted its position in shares of Gogo by 43.0% during the 2nd quarter. WINTON GROUP Ltd now owns 44,900 shares of the technology company’s stock valued at $139,000 after purchasing an additional 13,500 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of Gogo by 10.8% in the 2nd quarter. Engineers Gate Manager LP now owns 54,316 shares of the technology company’s stock worth $168,000 after purchasing an additional 5,282 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in Gogo during the second quarter valued at approximately $174,000. Corient Private Wealth LP acquired a new stake in Gogo during the second quarter valued at approximately $172,000. Finally, Amundi boosted its holdings in Gogo by 59.9% during the second quarter. Amundi now owns 66,931 shares of the technology company’s stock worth $207,000 after buying an additional 25,086 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc is an aviation connectivity and broadband services company that provides internet access, entertainment, and communications solutions for business and commercial aircraft. Its offerings are designed to help passengers and flight crews stay connected while in the air through a combination of air-to-ground and satellite-based technologies.

Gogo’s business aviation portfolio includes the AVANCE connectivity platform, which supports in-flight Wi-Fi and related services, as well as equipment, software, and network management solutions for private and business aircraft.