Gogo (NASDAQ:GOGO) Shares Gap Up - What's Next?

Gogo Inc. (NASDAQ:GOGO - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $12.53, but opened at $13.89. Gogo shares last traded at $14.80, with a volume of 1,099,476 shares trading hands.

Analyst Ratings Changes

GOGO has been the topic of a number of research analyst reports. Wall Street Zen upgraded Gogo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Roth Capital set a $16.50 price objective on Gogo and gave the company a "buy" rating in a research note on Wednesday. Finally, Roth Mkm decreased their target price on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Gogo currently has a consensus rating of "Moderate Buy" and an average price target of $12.63.

Gogo Stock Performance

The stock has a 50 day simple moving average of $9.87 and a 200 day simple moving average of $8.50. The company has a quick ratio of 1.36, a current ratio of 1.84 and a debt-to-equity ratio of 10.03. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -360.00 and a beta of 0.99.

Gogo (NASDAQ:GOGO - Get Free Report) last announced its earnings results on Friday, May 9th. The technology company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.05 by $0.13. The business had revenue of $230.31 million for the quarter, compared to the consensus estimate of $214.93 million. Gogo had a positive return on equity of 95.01% and a negative net margin of 0.82%. The company's revenue was up 120.8% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. As a group, analysts predict that Gogo Inc. will post 0.41 EPS for the current year.

Insider Transactions at Gogo

In related news, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $11.00, for a total value of $93,500,000.00. Following the transaction, the director now owns 4,174,482 shares in the company, valued at approximately $45,919,302. The trade was a 67.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 25.78% of the company's stock.

Institutional Investors Weigh In On Gogo

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of Gogo by 138.4% during the fourth quarter. FMR LLC now owns 13,475,009 shares of the technology company's stock worth $109,013,000 after buying an additional 7,821,973 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in Gogo by 441.5% during the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company's stock worth $20,829,000 after acquiring an additional 2,099,145 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Gogo during the 4th quarter worth $14,147,000. Tenzing Global Management LLC increased its position in shares of Gogo by 59.6% in the 4th quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company's stock worth $16,787,000 after purchasing an additional 775,000 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Gogo by 439.5% in the 1st quarter. Millennium Management LLC now owns 709,003 shares of the technology company's stock valued at $6,112,000 after purchasing an additional 577,575 shares in the last quarter. 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.