Gogo (NASDAQ:GOGO) Trading 6.7% Higher – Here’s What Happened

Shares of Gogo Inc. (NASDAQ:GOGO) traded up 6.7% on Tuesday . The stock traded as high as $6.89 and last traded at $7.15. 86,846 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,034,915 shares. The stock had previously closed at $6.70.

Gogo Stock Performance

The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The stock has a fifty day moving average price of $7.83 and a 200-day moving average price of $7.59. The firm has a market cap of $889.89 million, a price-to-earnings ratio of 16.45 and a beta of 1.01.

Hedge Funds Weigh In On Gogo

A number of large investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of Gogo during the fourth quarter worth about $43,000. State of Wyoming acquired a new position in Gogo during the 4th quarter worth approximately $57,000. Teza Capital Management LLC purchased a new position in shares of Gogo during the 4th quarter worth approximately $110,000. Hsbc Holdings PLC acquired a new stake in shares of Gogo in the 4th quarter valued at approximately $116,000. Finally, Diametric Capital LP purchased a new stake in shares of Gogo in the fourth quarter valued at approximately $121,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.