The stock price of Gogo Inc (NASDAQ: GOGO) has jumped by 1.76 compared to previous close of 6.80. Despite this, the company has seen a fall of -2.95% in its stock price over the last five trading days. prnewswire.com reported 2024-10-22 that LAS VEGAS, Oct. 22, 2024 /PRNewswire/ — (NBAA-BACE, booth 1601) – Wheels Up has reached an agreement with Gogo Business Aviation (NASDAQ: GOGO) to add Gogo Galileo HDX, the company’s Low Earth Orbit (LEO) global broadband satellite solution, fleetwide. “Exceptional onboard Wi-Fi is a central in-flight experience feature our members and customers value when selecting an aircraft,” said George Mattson, CEO for Wheels Up.
Is It Worth Investing in Gogo Inc (NASDAQ: GOGO) Right Now?
Gogo Inc (NASDAQ: GOGO) has a price-to-earnings ratio of 13.78x that is above its average ratio. Additionally, the 36-month beta value for GOGO is 1.09. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 2 rating it as “hold,” and 2 rating it as “sell.”
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The public float for GOGO is 62.41M and currently, short sellers hold a 19.97% ratio of that float. The average trading volume of GOGO on October 23, 2024 was 1.09M shares.
GOGO’s Market Performance
GOGO’s stock has seen a -2.95% decrease for the week, with a 0.29% rise in the past month and a -24.21% fall in the past quarter. The volatility ratio for the week is 4.29%, and the volatility levels for the past 30 days are at 5.30% for Gogo Inc. The simple moving average for the past 20 days is 2.14% for GOGO’s stock, with a -20.33% simple moving average for the past 200 days.
Analysts’ Opinion of GOGO
Many brokerage firms have already submitted their reports for GOGO stocks, with JP Morgan repeating the rating for GOGO by listing it as a “Neutral.” The predicted price for GOGO in the upcoming period, according to JP Morgan is $11 based on the research report published on February 29, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see GOGO reach a price target of $15, previously predicting the price at $14. The rating they have provided for GOGO stocks is “Equal-Weight” according to the report published on November 01st, 2022.
JP Morgan gave a rating of “Neutral” to GOGO, setting the target price at $16 in the report published on October 07th of the previous year.
GOGO Trading at -3.87% from the 50-Day Moving Average
After a stumble in the market that brought GOGO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -39.30% of loss for the given period.
Volatility was left at 5.30%, however, over the last 30 days, the volatility rate increased by 4.29%, as shares surge +0.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.98% lower at present.
During the last 5 trading sessions, GOGO fell by -2.95%, which changed the moving average for the period of 200-days by -25.99% in comparison to the 20-day moving average, which settled at $6.78. In addition, Gogo Inc saw -31.69% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GOGO starting from TOWNSEND CHARLES C, who purchase 28,857 shares at the price of $9.03 back on Mar 14 ’24. After this action, TOWNSEND CHARLES C now owns 1,740,588 shares of Gogo Inc, valued at $260,613 using the latest closing price.
WILLIAMS HARRIS N, the Director of Gogo Inc, purchase 12,000 shares at $8.10 during a trade that took place back on Feb 29 ’24, which means that WILLIAMS HARRIS N is holding 20,990 shares at $97,200 based on the most recent closing price.
Stock Fundamentals for GOGO
Current profitability levels for the company are sitting at:
- 0.28 for the present operating margin
- 0.64 for the gross margin
The net margin for Gogo Inc stands at 0.17. The total capital return value is set at 0.16. Equity return is now at value 217.92, with 8.62 for asset returns.
Based on Gogo Inc (GOGO), the company’s capital structure generated 0.92 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 11.59. The interest coverage ratio of the stock is 2.45.
Currently, EBITDA for the company is 140.87 million with net debt to EBITDA at 3.81. When we switch over and look at the enterprise to sales, we see a ratio of 3.46. The receivables turnover for the company is 5.2for trailing twelve months and the total asset turnover is 0.5. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.95.
Conclusion
In conclusion, Gogo Inc (GOGO) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
