Gogo Inc. (NASDAQ:GOGO) Short Interest Update

Gogo Inc. (NASDAQ:GOGO) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 20,450,000 shares, a growth of 8.2% from the November 30th total of 18,900,000 shares. Currently, 33.4% of the company’s stock are sold short. Based on an average trading volume of 1,380,000 shares, the short-interest ratio is presently 14.8 days.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOGO. Roth Mkm reissued a “buy” rating and issued a $15.50 price objective on shares of Gogo in a research report on Tuesday, September 17th. Morgan Stanley decreased their price target on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd.

Gogo Stock Performance

Gogo stock traded up $0.50 during mid-day trading on Wednesday, reaching $8.09. 1,315,955 shares of the company traded hands, compared to its average volume of 1,024,225. Gogo has a fifty-two week low of $6.17 and a fifty-two week high of $11.17. The firm’s fifty day moving average is $7.72 and its two-hundred day moving average is $7.93. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.81 and a beta of 1.18.

Hedge Funds Weigh In On Gogo

Hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in Gogo by 13.5% in the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after buying an additional 673,315 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Gogo by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock worth $29,901,000 after acquiring an additional 43,805 shares during the period. Capco Asset Management LLC raised its holdings in shares of Gogo by 1.7% during the second quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock worth $23,857,000 after purchasing an additional 41,866 shares during the last quarter. State Street Corp lifted its position in Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the period. Finally, William Blair Investment Management LLC lifted its position in Gogo by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after purchasing an additional 152,338 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

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.