Gogo Inc. (NASDAQ:GOGO) Short Interest Up 13.9% in November

Gogo Inc. (NASDAQ:GOGO) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 19,080,000 shares, an increase of 13.9% from the October 31st total of 16,750,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 15.0 days. Approximately 30.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

GOGO has been the subject of a number of analyst reports. Roth Mkm restated a “buy” rating and set a $15.50 price objective on shares of Gogo in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley reduced their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd.

Institutional Trading of Gogo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Gogo in the third quarter valued at approximately $169,000. Barclays PLC lifted its stake in Gogo by 357.5% during the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after acquiring an additional 85,925 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Gogo by 102.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,037 shares of the technology company’s stock valued at $208,000 after buying an additional 14,718 shares during the period. Weiss Asset Management LP purchased a new stake in Gogo during the third quarter worth about $3,031,000. Finally, State Street Corp raised its position in Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock worth $17,675,000 after acquiring an additional 51,681 shares during the period. 69.60% of the stock is owned by institutional investors.

Gogo Trading Down 8.5 %

Shares of NASDAQ:GOGO traded down $0.69 during mid-day trading on Tuesday, hitting $7.41. The company had a trading volume of 2,529,709 shares, compared to its average volume of 1,014,910. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. Gogo has a one year low of $6.17 and a one year high of $11.17. The firm has a fifty day moving average price of $7.31 and a 200 day moving average price of $8.31. The company has a market capitalization of $932.03 million, a PE ratio of 17.23 and a beta of 1.18.

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.