Gogo (NASDAQ:GOGO) Trading Down 3.3% – What’s Next?

Gogo Inc. (NASDAQ:GOGO)’s share price traded down 3.3% during trading on Monday . The stock traded as low as $7.91 and last traded at $7.97. 73,986 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 526,520 shares. The stock had previously closed at $8.24.

Analysts Set New Price Targets

Separately, Roth Mkm reiterated a “buy” rating and set a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th.

Gogo Stock Up 2.6 %

The stock has a market capitalization of $954.66 million, a P/E ratio of 17.65 and a beta of 1.15. The company has a fifty day moving average price of $7.78 and a 200-day moving average price of $7.88. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Gogo by 0.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock valued at $1,496,000 after purchasing an additional 1,714 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Gogo by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after buying an additional 3,181 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Gogo by 7.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock valued at $553,000 after purchasing an additional 3,845 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Gogo during the 3rd quarter valued at approximately $34,000. Finally, Public Sector Pension Investment Board raised its holdings in Gogo by 4.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 134,206 shares of the technology company’s stock valued at $1,291,000 after buying an additional 5,869 shares during the period. 69.60% of the stock is currently owned by institutional investors.

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.