Gogo (NASDAQ:GOGO) Shares Down 3.3% – Time to Sell?

Gogo Inc. (NASDAQ:GOGO)’s share price dropped 3.3% during trading on Monday . The stock traded as low as $7.91 and last traded at $7.97. Approximately 73,986 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 526,520 shares. The stock had previously closed at $8.24.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reaffirmed a “buy” rating and set a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th.

Gogo Stock Down 7.8 %

The firm has a 50-day moving average of $7.77 and a 200 day moving average of $7.92. The stock has a market capitalization of $955.92 million, a price-to-earnings ratio of 17.67 and a beta of 1.15. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new position in shares of Gogo in the third quarter worth $34,000. Brighton Jones LLC purchased a new stake in shares of Gogo during the third quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gogo during the second quarter valued at $107,000. AQR Capital Management LLC acquired a new position in Gogo in the 2nd quarter worth about $108,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Gogo during the 2nd quarter valued at about $117,000. Institutional investors own 69.60% of the company’s stock.

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.