Gogo Inc. (NASDAQ:GOGO – Get Free Report) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 4,240,000 shares, a decline of 10.2% from the July 15th total of 4,720,000 shares. Currently, 6.9% of the company’s shares are sold short. Based on an average daily trading volume, of 606,700 shares, the days-to-cover ratio is currently 7.0 days.
Gogo Trading Down 0.6 %
NASDAQ GOGO opened at $12.78 on Wednesday. The company has a debt-to-equity ratio of 64.05, a quick ratio of 3.15 and a current ratio of 4.11. The company has a 50-day simple moving average of $16.20 and a 200-day simple moving average of $15.27. The firm has a market capitalization of $1.64 billion, a PE ratio of 10.83 and a beta of 1.35. Gogo has a one year low of $11.57 and a one year high of $17.94.
Analysts Set New Price Targets
A number of research analysts have commented on GOGO shares. Roth Mkm reduced their price objective on Gogo from $22.50 to $19.50 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. StockNews.com began coverage on shares of Gogo in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Northland Securities dropped their price target on shares of Gogo from $16.00 to $14.00 in a research note on Tuesday, August 8th. TD Cowen decreased their price objective on shares of Gogo from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday. Finally, TheStreet raised Gogo from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Gogo has an average rating of “Moderate Buy” and a consensus target price of $17.63.