Gol Linhas Aéreas Inteligentes (NYSE:GOL) Shares Gap Up to $7.32

Gol Linhas Aéreas Inteligentes S.A. (NYSE:GOL) gapped up before the market opened on Wednesday . The stock had previously closed at $7.32, but opened at $7.92. Gol Linhas Aéreas Inteligentes shares last traded at $7.64, with a volume of 19,468 shares trading hands.

A number of research firms have recently commented on GOL. Bank of America downgraded shares of Gol Linhas Aéreas Inteligentes from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $9.10 to $8.10 in a research note on Monday. Credit Suisse Group downgraded Gol Linhas Aéreas Inteligentes from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 31st. HSBC increased their price objective on shares of Gol Linhas Aéreas Inteligentes from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, June 14th. Finally, Zacks Investment Research upgraded Gol Linhas Aéreas Inteligentes from a “strong sell” rating to a “hold” rating and set a $6.75 price target for the company in a report on Monday, August 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Gol Linhas Aéreas Inteligentes presently has an average rating of “Hold” and an average price target of $10.76.

The firm has a market capitalization of $1.51 billion, a PE ratio of -1.98 and a beta of 1.04. The firm has a fifty day moving average price of $7.73 and a 200 day moving average price of $8.47.

Gol Linhas Aéreas Inteligentes (NYSE:GOL) last issued its quarterly earnings results on Thursday, July 29th. The transportation company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.07. The business had revenue of $194.13 million for the quarter, compared to analysts’ expectations of $188.22 million. On average, research analysts predict that Gol Linhas Aéreas Inteligentes S.A. will post -2.98 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of GOL. Advisor Group Holdings Inc. raised its holdings in Gol Linhas Aéreas Inteligentes by 24.2% during the second quarter. Advisor Group Holdings Inc. now owns 6,704 shares of the transportation company’s stock valued at $62,000 after buying an additional 1,308 shares in the last quarter. Royal Bank of Canada lifted its holdings in Gol Linhas Aéreas Inteligentes by 1,306.5% in the 1st quarter. Royal Bank of Canada now owns 8,242 shares of the transportation company’s stock worth $63,000 after purchasing an additional 7,656 shares during the last quarter. Citigroup Inc. boosted its position in Gol Linhas Aéreas Inteligentes by 238.4% during the first quarter. Citigroup Inc. now owns 8,466 shares of the transportation company’s stock worth $65,000 after purchasing an additional 5,964 shares during the period. Flow Traders U.S. LLC acquired a new position in Gol Linhas Aéreas Inteligentes during the first quarter valued at approximately $124,000. Finally, Shay Capital LLC bought a new position in shares of Gol Linhas Aéreas Inteligentes in the second quarter valued at approximately $138,000. 2.12% of the stock is currently owned by institutional investors.

About Gol Linhas Aéreas Inteligentes (NYSE:GOL)

GOL Linhas Aéreas Inteligentes SA provides scheduled air transportation for passengers and cargo throughout Brazil and across Latin America. It operates its business through the Air Transportation and Loyalty Program segments. The Air Transportation segment through GLA, for the provision of air passenger transportation services and the main revenue-generating assets are its aircraft.

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