Gogo (NASDAQ:GOGO) Shares Gap Up – Here’s Why

Shares of Gogo Inc. (NASDAQ:GOGO) gapped up before the market opened on Friday . The stock had previously closed at $6.87, but opened at $7.58. Gogo shares last traded at $6.70, with a volume of 1,084,536 shares.

Gogo Trading Down 0.2 %

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 firm has a fifty day simple moving average of $7.80 and a 200-day simple moving average of $7.59. The firm has a market cap of $862.09 million, a P/E ratio of 15.97 and a beta of 1.01.

Hedge Funds Weigh In On Gogo

A number of large investors have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in Gogo during the fourth quarter worth $43,000. State of Wyoming bought a new stake in shares of Gogo during the fourth quarter worth about $57,000. Teza Capital Management LLC acquired a new stake in shares of Gogo in the 4th quarter worth about $110,000. Hsbc Holdings PLC bought a new position in Gogo in the 4th quarter valued at about $116,000. Finally, Diametric Capital LP acquired a new position in Gogo during the 4th quarter valued at about $121,000. 69.60% of the stock is currently owned by institutional investors.

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.