Gogo (NASDAQ:GOGO) Shares Up 10% – Should You Buy?

Shares of Gogo Inc. (NASDAQ:GOGO) rose 10% during mid-day trading on Thursday . The stock traded as high as $8.29 and last traded at $8.42. Approximately 584,411 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 961,214 shares. The stock had previously closed at $7.65.

Gogo Trading Up 11.4 %

The company has a 50 day simple moving average of $7.91 and a 200 day simple moving average of $7.64. 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 capitalization of $1.07 billion, a PE ratio of 19.81 and a beta of 1.13.

Institutional Investors Weigh In On Gogo

Large investors have recently modified their holdings of the stock. FMR LLC increased its stake in Gogo by 138.4% in the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock valued at $109,013,000 after buying an additional 7,821,973 shares during the period. Capco Asset Management LLC boosted its holdings in shares of Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock valued at $24,349,000 after acquiring an additional 544,178 shares in the last quarter. SCP Investment LP increased its stake in shares of Gogo by 51.0% during the fourth quarter. SCP Investment LP now owns 1,450,000 shares of the technology company’s stock worth $11,730,000 after acquiring an additional 490,000 shares during the period. Weiss Asset Management LP purchased a new position in Gogo during the third quarter worth about $3,031,000. Finally, Renaissance Technologies LLC lifted its position in Gogo by 113.8% in the fourth quarter. Renaissance Technologies LLC now owns 766,100 shares of the technology company’s stock valued at $6,198,000 after purchasing an additional 407,800 shares during the period. 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.