Gogo Short Interest Down 10.7% in May (GOGO)
Shares of Gogo (NASDAQ:GOGO) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 12,052,284 shares, a drop of 10.7% from the April 30th total of 13,491,167 shares, AmericanBankingNews.com reports. Currently, 24.0% of the shares of the company are short sold. Based on an average daily volume of 3,625,250 shares, the short-interest ratio is presently 3.3 days.
In other Gogo news, EVP John Wade unloaded 5,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $18.00, for a total transaction of $90,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on GOGO. 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.
Gogo (NASDAQ:GOGO) opened at 17.82 on Tuesday. Gogo has a 1-year low of $1.417 and a 1-year high of $35.77. The stock has a 50-day moving average of $15.64 and a 200-day moving average of $21.69. The company’s market cap is $1.516 billion.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, beating the analysts’ 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. Gogo’s revenue was up 35.2% compared to the same quarter last year. On average, analysts predict that Gogo will post $-0.91 earnings per share 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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