Gogo (NASDAQ:GOGO) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Gogo Inc. (NASDAQ:GOGO)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.25 and traded as low as $3.50. Gogo shares last traded at $3.58, with a volume of 771,443 shares changing hands.

Wall Street Analysts Forecast Growth

GOGO has been the subject of several research analyst reports. Morgan Stanley cut their target price on Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Roth Capital set a $12.00 price target on Gogo in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $9.50.

Gogo Stock Performance

The firm’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $4.25. The firm has a market cap of $484.16 million, a PE ratio of 32.55 and a beta of 1.16. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 6.89.

Institutional Investors Weigh In On Gogo

A number of hedge funds have recently made changes to their positions in GOGO. Caitong International Asset Management Co. Ltd purchased a new position in Gogo during the 4th quarter valued at approximately $27,000. PNC Financial Services Group Inc. increased its stake in Gogo by 310.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,318 shares of the technology company’s stock worth $29,000 after acquiring an additional 5,536 shares during the last quarter. State of Wyoming purchased a new stake in shares of Gogo during the 1st quarter worth approximately $34,000. Farther Finance Advisors LLC raised its holdings in shares of Gogo by 91,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 10,076 shares of the technology company’s stock worth $47,000 after acquiring an additional 10,065 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Gogo during the 4th quarter valued at approximately $52,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.