During the recent session, Gogo Inc. (NASDAQ:GOGO)’s traded shares were 1,679,839, with the beta value of the company hitting 1.25. At the last check, the stock’s price was $10.69, reflecting an intraday gain of 2.94% or $0.3. The 52-week high for the GOGO share is $17.23, that puts it down -61.18% from that peak though still a striking +87.56% gain since the share price plummeted to a 52-week low of $1.33. The company’s market capitalization is $930.91 Million, and the average intraday trading volume over the past 10 days was 1.72 Million shares, and the average trade volume was 3.28 Million shares over the past three months.
Gogo Inc. (GOGO) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3. GOGO has a Sell rating from 1 analyst(s) out of 7 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 2 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.13.
Gogo Inc. (NASDAQ:GOGO): Trading Information
Gogo Inc. (GOGO) registered a 2.94% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.1% in intraday trading to $10.96 this Monday, Apr 05, hitting a weekly high. The stock’s 5-day price performance is 11.08%, and it has moved by -15.38% in 30 days. Based on these gigs, the overall price performance for the year is 11.42%. The short interest in Gogo Inc. (NASDAQ:GOGO) is 15.84 Million shares and it means that shorts have 4.83 day(s) to cover.
The consensus price target of analysts on Wall Street is $12.5, which implies an increase of 16.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9 and $16 respectively. As a result, GOGO is trading at a discount of 49.67% off the target high and -15.81% off the low.
Gogo Inc. (GOGO) projections and forecasts
Statistics show that Gogo Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Gogo Inc. (GOGO) shares have gone up +0.97% during the last six months, with a year-to-date growth rate less than the industry average at -88.14% against 1.9%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 87.5% this quarter and then jump 96.2% in the quarter after that. In the rating firms’ projections, revenue will increase 16.1% compared to the previous financial year.
Revenue for the current quarter is expected to be $73.85 Million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $74.95 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $184.47 Million and $96.64 Million respectively. In this case, analysts expect current quarter sales to lessen by -60% and then fell by -22.4% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 15.3%. While earnings are projected to return 45.1% in 2021, the next five years will return 10% per annum.
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Gogo Inc. (NASDAQ:GOGO)’s Biggest Investors
Gogo Inc. insiders own 51.81% of total outstanding shares while institutional holders control 57.01%, with the float percentage being 118.32%. GTCR, LLC is the largest shareholder of the company, while 187 institutions own stock in it. As of Dec 30, 2020, the company held over 12.67 Million shares (or 14.67% of all shares), a total value of $122.06 Million in shares.
The next largest institutional holding, with 6.19 Million shares, is of Mudrick Capital Management, L.P.’s that is approximately 7.16% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $59.56 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Gogo Inc. (GOGO) shares are iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2021 indicates that iShares Russell 2000 ETF owns about 1,344,120 shares. This amounts to just over 1.56 percent of the company’s overall shares, with a $15.93 Million market value. The same data shows that the other fund manager holds slightly less at 1.11 Million, or about 1.28% of the stock, which is worth about $10.68 Million.