Investors Purchase Large Volume of Call Options on Gol Linhas Aereas Inteligentes (NYSE:GOL)

Gol Linhas Aereas Inteligentes SA (NYSE:GOL) was the recipient of some unusual options trading on Tuesday. Investors purchased 3,421 call options on the company. This represents an increase of approximately 320% compared to the average daily volume of 814 call options.

Shares of NYSE GOL traded down $0.09 during mid-day trading on Tuesday, reaching $6.83. The company’s stock had a trading volume of 80,865 shares, compared to its average volume of 3,996,981. The firm has a market capitalization of $1.19 billion, a PE ratio of -2.28 and a beta of 0.97. The stock has a fifty day moving average of $5.86 and a two-hundred day moving average of $10.08. Gol Linhas Aereas Inteligentes has a 52 week low of $1.85 and a 52 week high of $23.30.

Gol Linhas Aereas Inteligentes (NYSE:GOL) last announced its quarterly earnings results on Monday, May 4th. The transportation company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Gol Linhas Aereas Inteligentes had a negative return on equity of 10.77% and a negative net margin of 16.07%. The company had revenue of $710.87 million during the quarter. As a group, equities research analysts anticipate that Gol Linhas Aereas Inteligentes will post -0.6 EPS for the current fiscal year.

A number of research analysts have issued reports on GOL shares. Deutsche Bank downgraded Gol Linhas Aereas Inteligentes from a “buy” rating to a “hold” rating and reduced their price objective for the company from $23.00 to $5.00 in a research note on Tuesday, March 17th. ValuEngine upgraded Gol Linhas Aereas Inteligentes from a “sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Morgan Stanley lowered Gol Linhas Aereas Inteligentes from an “overweight” rating to an “equal weight” rating and set a $5.30 price target for the company. in a report on Friday, April 24th. Bank of America began coverage on Gol Linhas Aereas Inteligentes in a report on Thursday, May 28th. They set a “neutral” rating for the company. Finally, Goldman Sachs Group lowered Gol Linhas Aereas Inteligentes from a “buy” rating to a “neutral” rating in a report on Wednesday, April 8th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.02.

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in shares of Gol Linhas Aereas Inteligentes in the 1st quarter valued at about $45,000. Alpine Global Management LLC bought a new position in Gol Linhas Aereas Inteligentes during the first quarter worth $58,000. Aigen Investment Management LP bought a new position in Gol Linhas Aereas Inteligentes during the first quarter worth $58,000. Deltec Asset Management LLC boosted its position in Gol Linhas Aereas Inteligentes by 58.3% during the first quarter. Deltec Asset Management LLC now owns 19,000 shares of the transportation company’s stock worth $81,000 after purchasing an additional 7,000 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Gol Linhas Aereas Inteligentes during the first quarter worth $87,000. Institutional investors and hedge funds own 2.70% of the company’s stock.

About Gol Linhas Aereas Inteligentes

GOL Linhas AĆ©reas Inteligentes SA provides air passenger transportation services in Brazil and rest of South America, the Caribbean, and the United States. The company operates through Flight Transportation and Smiles Loyalty Program segments. It also offers cargo transportation and logistics services.

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