Gogo Inc. (NASDAQ:GOGO):
Gogo to provide inflight connectivity to LATAM in Brazil.
The company is so far trading down from yesterday’s close of 10.65.
Gogo Inc., launched on December 14, 2009, is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA). As of December 31, 2016, the Company provided its services on 2,943 commercial aircraft. Its BA segment offers a suite of in-flight Internet connectivity and other voice and data communications products and services to the business aviation market. It offers global network solutions, which include global satellite solutions for CA, global satellite solutions for BA and North American solutions for CA-NA and BA, and airborne equipment..
Shares of the company are trading at $10.57 significantly below the 50 day moving average which is $12.45 and which is much lower than the 200 day moving average of $12.37. The 50 day moving average was down $-1.88 whereas the 200 day average was down by -14.53%.
As of the latest earnings report the EPS was $-1.84 and is estimated to be $-2.03 for the current year with 86,714,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $-0.45 and the next full year EPS is projected to be $-1.61.
Traders are more bullish on the company lately if you evaluate the motion in short interest. The firm recorded a fall in short interest of -0.89% as of September 29, 2017 from the last reporting period. Short interest fell 226,309 over that timeframe. With short interest at 25,295,811 and short average daily volume at 1,219,579, the short-interest ratio is 21.0 and the percentage of shorted shares was 0.32% on September 29.
A few brokerage firms have issued ratings on the stock recently. On August 4 the stock rating was downgraded to “Hold” from “Hold” by Standpoint Research.