Bayer Michael P. Acquires Gogo Inc. (GOGO) Shares

Gogo Inc. (NASDAQ:GOGO) finished Friday with an addition of $0.07 to close at $17.10, an upside of 0.41 percent. An average of 631,000 shares of common stock have been traded in the last five days. There was a gain of $0.90 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 4,869,860 shares traded, while the 50-day average volume stands at 2,367,474.

GOGO stock has increased by 39.02% in the last month. The company shares reached their 1-month lowest point of $12.14 on 09/24/21. With the stock rallying to its 52-week high on 10/01/21, shares of the company touched a low of $8.02 and a high of $19.23 in 52 weeks. It has reached a new high 12 times so far this year and achieved 77.57% or $7.47 in price. In spite of this, the price is down -11.08% from the 52-week high.

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Insider Transactions

137 days have passed since Gogo Inc. (GOGO) last reported insider trading activity. Bayer Michael P., who is SVP, Controller & CAO, most recently acquired $6,675 shares at $14.45 per share on Jun 08. In this transaction, the insider spent $96,430. SVP, Controller & CAO, Bayer Michael P., disposed of 8,000 shares at a price of $10.85 on Dec 07. The insider now owns more than $86,760 worth of shares. Prior to that, 10% Owner Mudrick Capital Management, L. went on to Sale 622,898 shares at $10.35 each on Nov 24. An amount of $6,448,453 was transacted.

Valuation Metrics

Gogo Inc. (GOGO) has a trailing price-to-earnings (P/E) ratio of 17.20 for the broader industry and 30.57 for the sector. The stock’s beta is 1.04. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.31, and the price-to-cash flow ratio at 7.92.

The quick ratio of Gogo Inc. for the three months ended June 29 was 0.90, and the current ratio was 1.00, indicating that the company is not able to meet its debt obligations. Gogo Inc.’s EBITDA margin for the year ending June 29 is 33.56%, while its operating margin for the same period stands at 3.80%. Its gross profit as reported stood at $185.35 million compared to revenue of $269.72 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Gogo Inc.’s return on assets was -23.20%.

Earnings Surprise

For the three-month period that ended June 29, Gogo Inc. had $697.04 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$69.25 million in the quarter, while revenues of -$7.69 million were shrunk -24.16%. The analyst consensus anticipated Gogo Inc.’s latest quarter earnings to come in at -$0.05 per share, but it turned out to be -$0.63, a -1,160.00% surprise. For the quarter, EBITDA amounted to $34.34 million. Shareholders own equity worth $109.7 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Gogo Inc. (GOGO) price momentum. RSI 9-day as of the close on 22 October was 62.76%, suggesting the stock is Neutral, with historical volatility in this time frame at 33.97%.

As of today, GOGO’s price is $16.90 +5.56% or $0.90 from its 5-day moving average. GOGO is currently trading +38.69% higher than its 20-day SMA and +26.48% higher than its 100-day SMA. However, the stock’s current price level is +30.93% above the SMA50 and +68.97% above the SMA200.

The stochastic %K and %D were 63.75% and 53.05%, respectively, and the average true range (ATR) was 0.90. With the 14-day stochastic at 80.13% and the average true range at 0.93, the RSI (14) stands at 61.95%. The stock has reached 0.42 on the 9-day MACD Oscillator while the 14-day reading was at 0.69.

Analyst Ratings

JP Morgan upgraded Gogo Inc. (NASDAQ: GOGO) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for Gogo Inc. (GOGO) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell GOGO, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.

What is GOGO’s price target for the next 12 months?

Analysts predict a range of price targets between $12.00 and $23.00, with a median target of $18.00. Taking a look at these predictions, the average price target given by analysts for Gogo Inc. (GOGO) stock is $17.58.


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