Gogo (NASDAQ:GOGO) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Gogo Inc. (NASDAQ:GOGO)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.83 and traded as low as $6.85. Gogo shares last traded at $7.12, with a volume of 1,152,615 shares.

Wall Street Analyst Weigh In

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

Gogo Trading Up 4.7 %

The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The firm has a market capitalization of $955.92 million, a P/E ratio of 17.67 and a beta of 1.15. The business has a 50 day moving average of $7.81 and a 200-day moving average of $7.81.

Institutional Investors Weigh In On Gogo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp increased its holdings in Gogo by 7.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock worth $553,000 after purchasing an additional 3,845 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Gogo by 15.1% during the second quarter. American Century Companies Inc. now owns 85,603 shares of the technology company’s stock worth $824,000 after buying an additional 11,198 shares during the period. Capco Asset Management LLC grew its holdings in shares of Gogo by 1.7% during the second quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock worth $23,857,000 after buying an additional 41,866 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Gogo by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock valued at $29,901,000 after buying an additional 43,805 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Gogo by 4.6% in 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 acquiring an additional 5,869 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.