Gogo (NASDAQ:GOGO) Trading Up 9.8% – Time to Buy?

Gogo Inc. (NASDAQ:GOGO) shares were up 9.8% on Wednesday . The company traded as high as $7.99 and last traded at $7.97. Approximately 301,866 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 916,025 shares. The stock had previously closed at $7.26.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $15.50 price objective on shares of Gogo in a research note on Tuesday, September 17th.

Gogo Price Performance

The firm has a fifty day moving average of $7.82 and a two-hundred day moving average of $7.81. 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 company has a market capitalization of $988.62 million, a PE ratio of 18.28 and a beta of 1.15.

Institutional Trading of Gogo

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of Gogo in the third quarter worth $34,000. Brighton Jones LLC purchased a new position in shares of Gogo in the third quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gogo during the second quarter valued at about $107,000. AQR Capital Management LLC bought a new position in shares of Gogo during the second quarter valued at about $108,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Gogo during the second quarter worth about $117,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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.