Short Interest in Gogo Grows By 12.9% (GOGO)
Gogo (NASDAQ:GOGO) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 13,491,167 shares, an increase of 12.9% from the April 15th total of 11,952,420 shares, Analyst Ratings News reports. Currently, 26.8% of the company’s stock are sold short. Based on an average daily volume of 4,933,377 shares, the short-interest ratio is currently 2.7 days.
A number of analysts have recently weighed in on GOGO shares. Analysts at JPMorgan Chase & Co. cut their price target on shares of Gogo from $28.00 to $23.00 in a research note on Tuesday, April 29th. They now have an “overweight” rating on the stock. Finally, analysts at Evercore Partners upgraded shares of Gogo from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, February 19th. They now have a $26.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.00.
Gogo (NASDAQ:GOGO) opened at 13.42 on Thursday. Gogo has a 1-year low of $1.417 and a 1-year high of $35.77. The stock’s 50-day moving average is $17.16 and its 200-day moving average is $22.07. The company’s market cap is $1.140 billion.
Gogo (NASDAQ:GOGO) last released its earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.05. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $94.58 million. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. Analysts expect that Gogo will post $-0.91 EPS for the current fiscal year.
Gogo Inc is a holding company. The Company operates through its two operating subsidiaries, Gogo LLC and Aircell Business Aviation Services LLC.
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