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

February 15, 2018 - By Richard Conner

Investors sentiment decreased to 0.95 in 2017 Q3. Its down 0.36, from 1.31 in 2017Q2. It is negative, 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.
Blair William Co Il holds 239,266 shares or 0.02% of its portfolio. Metropolitan Life Insur Ny reported 78,958 shares or 0.01% of all its holdings. State Street has invested 0% in Gogo Inc. (NASDAQ:GOGO). Cornerstone Hldg Limited Liability Corp reported 0.01% in Gogo Inc. (NASDAQ:GOGO). Gabelli Funds Llc has 1.67 million shares for 0.11% of their portfolio. Credit Suisse Ag has invested 0% in Gogo Inc. (NASDAQ:GOGO). Valley Natl Advisers Inc invested in 0% or 120 shares. Royal Bancorp Of Canada reported 0% stake. Rhumbline Advisers accumulated 0% or 64,146 shares. Marathon Asset Mgmt L P accumulated 0.52% or 400,000 shares. Parallax Volatility Advisers Limited Partnership owns 225 shares or 0% of their US portfolio. Great West Life Assurance Can owns 5,100 shares. Bank & Trust Of America De reported 591,301 shares. The Texas-based Utd Service Automobile Association has invested 0% in Gogo Inc. (NASDAQ:GOGO). New York-based Renaissance Techs Limited Liability has invested 0% in Gogo Inc. (NASDAQ:GOGO).

The chart of Gogo Inc. (GOGO) shows a double bottom with $8.97 target or 8.00 % below today’s $9.75 share price. The 8 months chart pattern indicates high risk for the $845.60 million company. It was reported on Feb, 15 by Finviz.com. If the $8.97 price target is reached, the company will be worth $67.65 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 7.21% or $0.655 during the last trading session, reaching $9.745. About 1.54 million shares traded or 54.20% up from the average. Gogo Inc. (NASDAQ:GOGO) has risen 33.47% since February 15, 2017 and is uptrending. It has outperformed by 16.77% the S&P500.

Analysts await Gogo Inc. (NASDAQ:GOGO) to report earnings on February, 26. They expect $-0.47 earnings per share, down 38.24 % or $0.13 from last year’s $-0.34 per share. After $-0.57 actual earnings per share reported by Gogo Inc. for the previous quarter, Wall Street now forecasts -17.54 % EPS growth.

Gogo Inc. (NASDAQ:GOGO) Ratings Coverage

Among 7 analysts covering Gogo (NASDAQ:GOGO), 4 have Buy rating, 1 Sell and 2 Hold. Therefore 57% are positive. Gogo had 12 analyst reports since October 7, 2015 according to SRatingsIntel. The stock of Gogo Inc. (NASDAQ:GOGO) has “Buy” rating given on Wednesday, January 25 by Guggenheim. On Wednesday, August 31 the stock rating was upgraded by Standpoint Research to “Buy”. Standpoint Research downgraded the shares of GOGO in report on Thursday, August 18 to “Hold” rating. Northland Capital maintained Gogo Inc. (NASDAQ:GOGO) on Wednesday, October 18 with “Sell” rating. Dougherty & Company maintained the stock with “Buy” rating in Wednesday, June 15 report. The firm has “Buy” rating by Standpoint Research given on Thursday, June 23. As per Friday, August 4, the company rating was downgraded by Standpoint Research. Dougherty & Company maintained the shares of GOGO in report on Wednesday, October 7 with “Buy” rating. Macquarie Research maintained it with “Neutral” rating and $13 target in Tuesday, February 23 report. Dougherty & Company maintained Gogo Inc. (NASDAQ:GOGO) on Monday, January 25 with “Buy” rating.

More news for Gogo Inc. (NASDAQ:GOGO) were recently published by: Prnewswire.com, which released: “Gogo Inc. to Report Fourth Quarter and Full-Year 2017 Financial Results on …” on January 30, 2018. Gurufocus.com‘s article titled: “TENOR CAPITAL MANAGEMENT Co., LP Buys Regalwood Global Energy, Legacy …” and published on February 15, 2018 is yet another important article.

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