Gogo Inc. (NASDAQ:GOGO) shares rose 9.3% during trading on Thursday . The stock traded as high as $10.93 and last traded at $10.65. Approximately 3,040,269 shares changed hands during trading, an increase of 195% from the average daily volume of 1,030,959 shares. The stock had previously closed at $9.74.

A number of analysts have commented on GOGO shares. BidaskClub raised Gogo from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Standpoint Research lowered Gogo from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Northland Securities assumed coverage on Gogo in a research note on Tuesday, September 19th. They set an “under perform” rating and a $6.75 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.35.

The company has a debt-to-equity ratio of -6.40, a quick ratio of 2.02 and a current ratio of 2.20.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). The firm had revenue of $172.87 million during the quarter, compared to analyst estimates of $172.92 million. Gogo’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) EPS. sell-side analysts anticipate that Gogo Inc. will post -2.09 earnings per share for the current fiscal year.

In related news, insider Michael Small purchased 100,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $8.79 per share, for a total transaction of $879,000.00. Following the completion of the transaction, the insider now directly owns 398,224 shares of the company’s stock, valued at $3,500,388.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 37.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new position in Gogo during the first quarter worth $114,000. Parkwood LLC increased its holdings in Gogo by 16.2% in the second quarter. Parkwood LLC now owns 12,888 shares of the technology company’s stock valued at $149,000 after buying an additional 1,799 shares during the last quarter. Legal & General Group Plc increased its holdings in Gogo by 12.3% in the first quarter. Legal & General Group Plc now owns 14,770 shares of the technology company’s stock valued at $163,000 after buying an additional 1,612 shares during the last quarter. Verition Fund Management LLC increased its holdings in Gogo by 37.3% in the second quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock valued at $168,000 after buying an additional 3,963 shares during the last quarter. Finally, National Asset Management Inc. purchased a new position in Gogo in the second quarter valued at $172,000. Hedge funds and other institutional investors own 65.92% of the company’s stock.

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About Gogo

Gogo Inc 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).

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