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

Gogo Inc. (NASDAQ:GOGO)’s share price shot up 10% during trading on Thursday . The company traded as high as $8.29 and last traded at $8.42. 584,411 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 961,214 shares. The stock had previously closed at $7.65.

Gogo Stock Up 11.4 %

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 company has a market capitalization of $1.07 billion, a PE ratio of 19.81 and a beta of 1.13. The firm’s 50-day simple moving average is $7.91 and its 200 day simple moving average is $7.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in shares of Gogo during the 3rd quarter valued at approximately $34,000. Brighton Jones LLC purchased a new position in Gogo in the 3rd quarter valued at approximately $72,000. AQR Capital Management LLC acquired a new position in Gogo during the second quarter worth $108,000. Diametric Capital LP purchased a new stake in Gogo during the fourth quarter worth $121,000. Finally, Mariner LLC acquired a new stake in Gogo in the fourth quarter valued at $124,000. 69.60% of the stock is currently 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.