Gogo (NASDAQ:GOGO) Trading Down 4.4% – Time to Sell?

Gogo Inc. (NASDAQ:GOGO)’s share price dropped 4.4% on Wednesday . The company traded as low as $6.65 and last traded at $6.65. Approximately 167,859 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,031,006 shares. The stock had previously closed at $6.95.

Gogo Stock Performance

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 $855.30 million, a PE ratio of 15.80 and a beta of 1.01. The firm’s 50 day moving average price is $7.93 and its 200-day moving average price is $7.62.

Hedge Funds Weigh In On Gogo

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Gogo by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company’s stock valued at $298,000 after buying an additional 1,273 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Gogo by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company’s stock valued at $1,807,000 after acquiring an additional 1,373 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Gogo by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock worth $1,496,000 after acquiring an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Gogo by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after purchasing an additional 3,181 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Gogo by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company’s stock worth $502,000 after purchasing an additional 5,078 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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.