Gogo (GOGO) : Traders are bullish on Gogo (GOGO) as it has outperformed the S&P 500 by a wide margin of 39.92% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.68%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.65% in the last 1 week, and is up 40.46% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Gogo Inc. is up 20.12% in the last 3-month period. Year-to-Date the stock performance stands at -34.27%. The stock has recorded a 20-day Moving Average of 17.91% and the 50-Day Moving Average is 28.78%.
Gogo (NASDAQ:GOGO): The stock opened at $11.72 on Friday but the bulls could not build on the opening and the stock topped out at $11.82 for the day. The stock traded down to $11.62 during the day, due to lack of any buying support eventually closed down at $11.70 with a loss of -0.76% for the day. The stock had closed at $11.79 on the previous day. The total traded volume was 558,314 shares.
Also, Standpoint Research downgrades its rating on Gogo (NASDAQ:GOGO). Analysts at the Standpoint Research have a current rating of Hold on the shares. The shares were previously rated Buy. The rating by the firm was issued on August 18, 2016.
Gogo Inc. is a holding company. The Company is an aero communications service provider. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA). Its services include global network solutions, which include ATG/ATG-4, Ku/2Ku, Global Xpress and Iridium and SwiftBroadband (SBB); equipment and equipment related services, which include a package of airborne equipment for its ATG/ATG-4 and satellite services; passenger services, which include passenger connectivity, passenger entertainment and portal content; airline/owner/operator services, which include account support, network monitoring and management services, passenger support services and portal design, development and hosting, and operations-oriented communications services, which include providing commercial airlines and business aircraft owners and operators the access to use applications requiring connectivity.