Gogo Inc. (NASDAQ:GOGO) Short Interest Up 13.9% in November

Gogo Inc. (NASDAQ:GOGO) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 19,080,000 shares, a growth of 13.9% from the October 31st total of 16,750,000 shares. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is presently 15.0 days. Currently, 30.9% of the shares of the company are short sold.

Institutional Trading of Gogo

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Gogo by 0.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock valued at $1,496,000 after acquiring an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after purchasing an additional 3,181 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Gogo by 7.2% during the second quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock valued at $553,000 after purchasing an additional 3,845 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Gogo during the third quarter worth about $34,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Gogo by 11.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company’s stock worth $481,000 after purchasing an additional 5,688 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GOGO shares. Roth Mkm reaffirmed a “buy” rating and issued a $15.50 price objective on shares of Gogo in a report on Tuesday, September 17th. JPMorgan Chase & Co. dropped their target price on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd.

Gogo Price Performance

Gogo stock traded down $0.69 during midday trading on Tuesday, reaching $7.41. The company’s stock had a trading volume of 2,529,709 shares, compared to its average volume of 1,014,910. 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 stock has a market cap of $932.03 million, a PE ratio of 17.23 and a beta of 1.18. Gogo has a 52 week low of $6.17 and a 52 week high of $11.17. The business has a 50-day moving average price of $7.31 and a 200-day moving average price of $8.31.

About Gogo

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.