What’s Gogo Inc. (GOGO) Downside After Reaching 52-Week Low?

July 13, 2018 - By Sonya McDaniel

Gogo Inc. (NASDAQ:GOGO) Logo

Investors sentiment decreased to 1 in Q1 2018. Its down 0.29, from 1.29 in 2017Q4. It dropped, as 23 investors sold Gogo Inc. shares while 26 reduced holdings. 12 funds opened positions while 37 raised stakes. 60.32 million shares or 2.99% less from 62.18 million shares in 2017Q4 were reported.
Moreover, Regis Company has 0.02% invested in Gogo Inc. (NASDAQ:GOGO). Guggenheim Limited Liability Com reported 22,146 shares. Public Employees Retirement Of Ohio accumulated 138,130 shares or 0.01% of the stock. Quinn Opportunity Prtnrs Ltd holds 11,000 shares or 0.01% of its portfolio. Moreover, Great West Life Assurance Can has 0% invested in Gogo Inc. (NASDAQ:GOGO) for 5,100 shares. State Common Retirement Fund stated it has 466,271 shares or 0.01% of all its holdings. Invesco holds 0% or 101,931 shares in its portfolio. Frontier Capital Mngmt Limited holds 2.66 million shares. Fmr Ltd Limited Liability Company owns 11.07 million shares or 0.01% of their US portfolio. Ameritas Invest Prtnrs stated it has 5,004 shares. 51,974 were accumulated by Credit Suisse Ag. Ims Capital holds 29,766 shares or 0.21% of its portfolio. Cwm Ltd holds 0% or 400 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 0% in Gogo Inc. (NASDAQ:GOGO). Price T Rowe Associate Md owns 13,629 shares.

Since March 8, 2018, it had 6 buys, and 0 selling transactions for $5.26 million activity. Shares for $739,918 were bought by TOWNSEND CHARLES C on Tuesday, May 29. MUNDHEIM ROBERT H bought $54,986 worth of stock.

The stock of Gogo Inc. (NASDAQ:GOGO) hit a new 52-week low and has $3.68 target or 9.00 % below today’s $4.04 share price. The 8 months bearish chart indicates high risk for the $351.50M company. The 1-year low was reported on Jul, 13 by Barchart.com. If the $3.68 price target is reached, the company will be worth $31.63M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 16.18% or $0.78 during the last trading session, reaching $4.04. About 11.32M shares traded or 534.14% up from the average. Gogo Inc. (NASDAQ:GOGO) has declined 59.54% since July 13, 2017 and is downtrending. It has underperformed by 72.11% the S&P500.

Analysts await Gogo Inc. (NASDAQ:GOGO) to report earnings on August, 6. They expect $-0.72 EPS, down 28.57 % or $0.16 from last year’s $-0.56 per share. After $-0.34 actual EPS reported by Gogo Inc. for the previous quarter, Wall Street now forecasts 111.76 % negative EPS growth.

Gogo Inc. (NASDAQ:GOGO) Ratings Coverage

Among 7 analysts covering Gogo Inc (NASDAQ:GOGO), 1 have Buy rating, 2 Sell and 4 Hold. Therefore 14% are positive. Gogo Inc had 8 analyst reports since February 15, 2018 according to SRatingsIntel. Guggenheim downgraded Gogo Inc. (NASDAQ:GOGO) on Wednesday, March 7 to “Neutral” rating. The firm has “Neutral” rating by JP Morgan given on Friday, February 23. Morgan Stanley maintained Gogo Inc. (NASDAQ:GOGO) on Wednesday, May 30 with “Underweight” rating. UBS downgraded the stock to “Neutral” rating in Monday, May 21 report. The stock of Gogo Inc. (NASDAQ:GOGO) has “Hold” rating given on Friday, February 23 by J.P. Morgan. Northland Capital maintained Gogo Inc. (NASDAQ:GOGO) on Friday, February 23 with “Sell” rating.

More notable recent Gogo Inc. (NASDAQ:GOGO) news were published by: Benzinga.com which released: “24 Stocks Moving In Friday’s Mid-Day Session” on July 13, 2018, also Globenewswire.com with their article: “CLASS ACTION UPDATE for GOGO and COOL: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of …” published on July 12, 2018, Seekingalpha.com published: “Gogo +6.6% on restructuring plan” on July 12, 2018. More interesting news about Gogo Inc. (NASDAQ:GOGO) were released by: Globenewswire.com and their article: “SHAREHOLDER ALERT – HAIR GOGO COOL MD GLCNF GLNCY ATEN REPH: The Law Offices of Vincent Wong …” published on July 13, 2018 as well as Seekingalpha.com‘s news article titled: “Gogo slides as Guggenheim trims estimates ahead of call” with publication date: July 09, 2018.

Gogo Inc., through its subsidiaries, provides in-flight connectivity and wireless in-cabin digital entertainment solutions to the aviation industry in the United States and internationally. The company has market cap of $351.50 million. The firm operates through three divisions: Commercial Aviation North America , Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA). It currently has negative earnings. The CA-NA segment provides in-flight connectivity and wireless digital entertainment solutions to commercial airline passengers flying routes that generally begin and end within North America.

Gogo Inc. (NASDAQ:GOGO) Institutional Positions Chart

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