Could Gogo Inc. (GOGO) Change Direction After This Double Bottom Chart Pattern

March 22, 2018 - By Clifton Ray

Investors sentiment decreased to 0.95 in 2017 Q3. Its down 0.36, from 1.31 in 2017Q2. It worsened, as 26 investors sold Gogo Inc. shares while 31 reduced holdings. 16 funds opened positions while 38 raised stakes. 56.73 million shares or 4.99% more from 54.03 million shares in 2017Q2 were reported.
Whitebox Advisors has invested 0.33% in Gogo Inc. (NASDAQ:GOGO). Fmr Llc accumulated 8.05M shares. Morgan Stanley has invested 0% in Gogo Inc. (NASDAQ:GOGO). Elk Creek Prns Limited Liability Co reported 1.25% stake. Gsa Capital Prns Llp holds 0.04% or 50,888 shares. Us Commercial Bank De invested in 10,491 shares or 0% of the stock. Quantitative Mgmt Ltd Llc holds 259,900 shares or 0.04% of its portfolio. Voya Investment Mngmt Limited Liability Company holds 0% or 27,707 shares. Landscape Cap Mgmt Lc reported 17,964 shares. Public Employees Retirement Sys Of Ohio invested 0.01% of its portfolio in Gogo Inc. (NASDAQ:GOGO). Moreover, Gabelli Funds Ltd Liability Corporation has 0.11% invested in Gogo Inc. (NASDAQ:GOGO). Great West Life Assurance Co Can owns 0% invested in Gogo Inc. (NASDAQ:GOGO) for 5,100 shares. Pacad invested 0.03% of its portfolio in Gogo Inc. (NASDAQ:GOGO). Legal & General Grp Pcl holds 0% in Gogo Inc. (NASDAQ:GOGO) or 15,008 shares. Nationwide Fund Advsrs invested in 32,312 shares.

Since March 8, 2018, it had 1 insider buy, and 0 insider sales for $931,780 activity.

The chart of Gogo Inc. (GOGO) shows a double bottom with $8.53 target or 8.00 % below today’s $9.27 share price. The 8 months chart pattern indicates high risk for the $805.04 million company. It was reported on Mar, 22 by If the $8.53 price target is reached, the company will be worth $64.40M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.42% or $0.13 during the last trading session, reaching $9.27. About 373,611 shares traded. Gogo Inc. (NASDAQ:GOGO) has risen 33.47% since March 22, 2017 and is uptrending. It has outperformed by 16.77% the S&P500.

Analysts await Gogo Inc. (NASDAQ:GOGO) to report earnings on May, 3. They expect $-0.48 EPS, up 7.69 % or $0.04 from last year’s $-0.52 per share. After $-0.52 actual EPS reported by Gogo Inc. for the previous quarter, Wall Street now forecasts -7.69 % EPS growth.

Gogo Inc. (NASDAQ:GOGO) Ratings Coverage

Among 10 analysts covering Gogo (NASDAQ:GOGO), 3 have Buy rating, 2 Sell and 5 Hold. Therefore 30% are positive. Gogo had 17 analyst reports since October 7, 2015 according to SRatingsIntel. The stock has “Hold” rating by Standpoint Research on Friday, August 4. The stock of Gogo Inc. (NASDAQ:GOGO) has “Buy” rating given on Wednesday, January 25 by Guggenheim. On Wednesday, March 7 the stock rating was downgraded by Guggenheim to “Neutral”. The firm has “Buy” rating given on Wednesday, June 15 by Dougherty & Company. On Wednesday, August 31 the stock rating was upgraded by Standpoint Research to “Buy”. The firm has “Buy” rating by Standpoint Research given on Thursday, June 23. As per Monday, January 25, the company rating was maintained by Dougherty & Company. JP Morgan downgraded the stock to “Neutral” rating in Friday, February 23 report. The stock of Gogo Inc. (NASDAQ:GOGO) has “Buy” rating given on Wednesday, October 7 by Dougherty & Company. Northland Capital maintained the stock with “Sell” rating in Friday, February 23 report.

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