Gogo Inc (NASDAQ:GOGO) was the recipient of a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 31,850,000 shares, a decline of 9.5% from the November 14th total of 35,210,000 shares. Currently, 58.7% of the company’s shares are sold short. Based on an average trading volume of 1,868,200 shares, the short-interest ratio is presently 17.0 days.
GOGO has been the subject of a number of analyst reports. William Blair reaffirmed a “buy” rating on shares of Gogo in a report on Monday, September 23rd. ValuEngine lowered shares of Gogo from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 3rd. Zacks Investment Research lowered shares of Gogo from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, BidaskClub raised shares of Gogo from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.44.
In other Gogo news, CAO Michael P. Bayer sold 10,947 shares of Gogo stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $6.45, for a total transaction of $70,608.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.50% of the stock is currently owned by insiders.
Shares of GOGO stock traded up $0.12 on Friday, hitting $5.58. The stock had a trading volume of 1,007,496 shares, compared to its average volume of 1,232,602. Gogo has a twelve month low of $2.64 and a twelve month high of $7.23. The firm has a market cap of $481.34 million, a P/E ratio of -3.05 and a beta of 0.99. The company has a fifty day moving average price of $5.76 and a two-hundred day moving average price of $5.05.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.29. The firm had revenue of $201.18 million during the quarter, compared to analyst estimates of $206.07 million. During the same period last year, the firm earned ($0.47) EPS. Gogo’s quarterly revenue was down 7.4% on a year-over-year basis. Research analysts expect that Gogo will post -1.59 earnings per share for the current year.
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
Further Reading: Leveraged Buyout (LBO) Explained
Receive News & Ratings for Gogo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo and related companies with MarketBeat.com's FREE daily email newsletter.