Gogo Inc. (NASDAQ:GOGO):
Gogo Announces Its Next Generation Ground Network to Support In-flight Connectivity in North America.
The company is so far trading up by 1.78% since yesterday’s close of $12.35.
Shares last traded at $12.57 just above the 50 day moving average which is $11.93 and which is a tad above the 200 day moving average of $10.34. The 50 day moving average went up $0.63 or +5.28% whereas the 200 day average was up by +21.52%.
In the latest earnings report the EPS was $-1.61 and is projected to be $-1.55 for the current year with 86,176,000 shares currently outstanding. Next quarter’s EPS is expected be $-0.42 and the next full year EPS is anticipated to be $-1.47.
Investors are feeling more bullish on shares of Gogo Inc. recently if you take into consideration the change in short interest. The firm recorded a fall in short interest of -0.13% between August 31, 2016 and September 15, 2016. Short interest decreased from 21,973,474 to 19,192,947 over that timeframe. With short interest at 19,192,947 and short average daily volume at 1,092,505, the short-interest ratio is 17.6 and the percentage of shorted shares is 0.22% as of September 15.
Several ratings firms have provided guidance on GOGO recently. On August 18 the company was downgraded to “Hold” from “Buy” in an announcement from Standpoint Research. Equity analyst Standpoint Research initiated coverage on GOGO by announcing an initial rating of “Buy”.
On February 23 Macquarie kept the company rating at “Neutral” and lowered the price expectation from $19.00 to $13.00. On December 23, 2014 Dougherty & Company starting coverage on the stock with a rating of “Buy” and setting a price target of $24.00.
On June 17 analysts at Macquarie initiated coverage on the stock setting a rating of “Neutral” and a price target of $21.00. Wells Fargo began coverage with an initial rating of “Market Perform”.