Short Interest in Gogo Inc. (NASDAQ:GOGO) Rises By 8.4%

Gogo Inc. (NASDAQ:GOGO) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 16,750,000 shares, a growth of 8.4% from the October 15th total of 15,450,000 shares. Approximately 27.1% of the shares of the company are sold short. Based on an average daily volume of 1,310,000 shares, the short-interest ratio is currently 12.8 days.

Gogo Trading Up 3.2 %

Shares of GOGO stock opened at $7.78 on Tuesday. Gogo has a 52-week low of $6.17 and a 52-week high of $11.17. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The firm has a market capitalization of $978.56 million, a PE ratio of 18.09 and a beta of 1.10. The stock has a fifty day simple moving average of $7.11 and a two-hundred day simple moving average of $8.46.

Analysts Set New Price Targets

GOGO has been the subject of several analyst reports. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. cut their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $15.50 price target on shares of Gogo in a research note on Tuesday, September 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in shares of Gogo during the 3rd quarter valued at about $34,000. Brighton Jones LLC bought a new position in shares of Gogo during the 3rd quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gogo in the 2nd quarter valued at about $107,000. AQR Capital Management LLC bought a new position in shares of Gogo in the 2nd quarter valued at about $108,000. Finally, SG Americas Securities LLC bought a new position in shares of Gogo in the 2nd quarter valued at about $109,000. 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.