Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gogo Inc shares valued at $260,613 were purchased by TOWNSEND CHARLES C on Mar 14 ’24. At $9.03 per share, TOWNSEND CHARLES C acquired 28,857 shares. The insider’s holdings grew to 1,740,588 shares worth approximately $11.8 million following the completion of this transaction.
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Also, WILLIAMS HARRIS N purchased 12,000 shares, netting a total of over 97,200 in proceeds. Following the buying of shares at $8.10 each, the insider now holds 20,990 shares.
Before that, TOWNSEND CHARLES C had added 186,249 shares to its account. In a trade valued at $1,566,056, the Director bought Gogo Inc shares for $8.41 each. Upon closing the transaction, the insider’s holdings increased to 186,249 shares, worth approximately $11.61 million.
Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early November. As of October 07, 2021, JP Morgan has increased its “an Underweight” rating to a “Neutral” for GOGO. Earlier on October 06, 2021, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for GOGO stock which previously was a “an Equal-weight”.
Analyzing GOGO Stock Performance
During the last five days, there has been a drop of approximately -12.06%. Over the course of the year, Gogo Inc shares have dropped approximately -33.07%. Shares of the company reached a 52-week high of $11.17 on 02/07/24 and a 52-week low of $6.72 on 09/18/24. A 50-day SMA is recorded $8.17, while a 200-day SMA reached $9.07. Nevertheless, trading volume fell to 1.13 million shares from 1.06 million shares the previous day.
Support And Resistance Levels for Gogo Inc (GOGO)
According to the 24-hour chart, there is a support level at 6.64, which, if violated, would cause prices to drop to 6.51. In the upper region, resistance lies at 6.99. The next price resistance is at 7.21. RSI (Relative Strength Index) is 33.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.71, which suggests the price will decrease in the coming days. Percent R is at 96.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
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