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

Key Points

• Gogo shares briefly fell below their 200-day moving average: They hit $3.33 and last traded at $3.60, just under the $3.61 average.
• Analyst views are mixed, but the consensus is Hold, with an average price target of $8.50; ratings include one Buy, three Holds, and one Sell.
• Quarterly results missed expectations: Gogo reported a loss of $0.02 per share versus the $0.01 loss forecast, while revenue of $213.23 million also came in below estimates and declined 4.6% year over year.

Gogo Inc. (NASDAQ:GOGO - Get Free Report) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $3.61 and traded as low as $3.33. Gogo shares last traded at $3.60, with a volume of 2,816,040 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Roth Capital reissued a "buy" rating on shares of Gogo in a report on Friday, August 7th. Wall Street Zen downgraded shares of Gogo from a "hold" rating to a "sell" rating in a report on Saturday, October 24th. Zacks Research raised shares of Gogo from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Finally, Weiss Ratings lowered shares of Gogo from a "sell (d)" rating to a "sell (e+)" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Gogo has an average rating of "Hold" and an average target price of $8.50.

Gogo Price Performance

The business has a fifty day moving average of $2.44 and a 200-day moving average of $3.61. The firm has a market cap of $488.30 million, a PE ratio of 32.91 and a beta of 1.26. The company has a current ratio of 1.84, a quick ratio of 1.32 and a debt-to-equity ratio of 6.65.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Friday, November 6th. The technology company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $213.23 million during the quarter, compared to the consensus estimate of $216.52 million. Gogo had a positive return on equity of 11.88% and a negative net margin of 0.24%. The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, research analysts predict that Gogo Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Gogo

A number of large investors have recently modified their holdings of the company. Engineers Gate Manager LP grew its stake in Gogo by 10.8% during the second quarter. Engineers Gate Manager LP now owns 54,316 shares of the technology company's stock valued at $168,000 after acquiring an additional 5,282 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Gogo by 310.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company's stock worth $29,000 after purchasing an additional 5,536 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Gogo by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 379,682 shares of the technology company's stock valued at $1,526,000 after purchasing an additional 8,379 shares in the last quarter. State of Wyoming purchased a new position in shares of Gogo during the 1st quarter valued at $34,000. Finally, Two Sigma Securities LLC bought a new position in shares of Gogo in the second quarter worth $41,000. 69.60% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.