Gogo (NASDAQ:GOGO) Stock Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Gogo Inc. shares have traded below their two hundred-day moving average, hitting a low of $9.24 before closing at $9.37.
• Several equity analysts have recently issued mixed ratings, with a consensus target price of $14.83 and an average rating of "Moderate Buy."
• Gogo reported a significant increase in revenue, up 121.4% year-over-year, with earnings per share of $0.13 for the last quarter, exceeding expectations.

Gogo Inc. (NASDAQ:GOGO - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.00 and traded as low as $9.24. Gogo shares last traded at $9.37, with a volume of 2,037,589 shares trading hands.

Analysts Set New Price Targets

GOGO has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Gogo in a research report on Thursday, August 14th. They set an "equal weight" rating and a $15.00 price objective for the company. Wall Street Zen lowered shares of Gogo from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Roth Capital set a $16.50 price objective on shares of Gogo and gave the company a "buy" rating in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Gogo currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.83.

Gogo Stock Down 1.4%

The firm has a 50 day moving average price of $12.75 and a 200-day moving average price of $11.04. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 222.00 and a beta of 0.78. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The company had revenue of $226.04 million during the quarter, compared to analysts' expectations of $220.12 million. During the same quarter in the previous year, the business earned $0.01 EPS. The firm's revenue was up 121.4% on a year-over-year basis. Gogo has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

Insider Activity

In other Gogo news, CEO Christopher John Moore bought 10,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $12.11 per share, with a total value of $121,100.00. Following the transaction, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $121,100. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 25.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gogo

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Gogo by 532.9% in the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock worth $31,000 after buying an additional 3,027 shares during the period. Lazard Asset Management LLC bought a new position in Gogo during the fourth quarter valued at about $43,000. State of Wyoming bought a new position in Gogo during the fourth quarter valued at about $57,000. USA Financial Formulas bought a new position in Gogo during the second quarter valued at about $76,000. Finally, CWM LLC boosted its stake in Gogo by 127.0% during the second quarter. CWM LLC now owns 6,626 shares of the technology company's stock valued at $97,000 after buying an additional 3,707 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

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.