The Goldman Sachs Group Initiates Coverage on BTGO (NYSE:BTGO)

Equities research analysts at The Goldman Sachs Group assumed coverage on shares of BTGO (NYSE:BTGO) in a research report issued to clients and investors on Tuesday. The brokerage set a “neutral” rating and a $11.50 price target on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 7.78% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Mizuho started coverage on BTGO in a research note on Tuesday. They issued an “outperform” rating and a $17.00 price target on the stock. Canaccord Genuity Group initiated coverage on BTGO in a report on Tuesday. They set a “buy” rating and a $15.00 price objective on the stock. Cantor Fitzgerald assumed coverage on BTGO in a research note on Tuesday. They set an “overweight” rating and a $18.00 target price for the company. Wedbush assumed coverage on shares of BTGO in a research note on Tuesday. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Craig Hallum initiated coverage on shares of BTGO in a report on Tuesday. They issued a “buy” rating and a $18.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.35.

BTGO Trading Up 5.1%

BTGO stock opened at $10.67 on Tuesday. BTGO has a 12-month low of $9.66 and a 12-month high of $24.50.

Insider Transactions at BTGO

In other BTGO news, CFO Edward Reginelli sold 45,000 shares of BTGO stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total value of $753,300.00. Following the completion of the transaction, the chief financial officer owned 539,000 shares of the company’s stock, valued at $9,022,860. The trade was a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jody Mettler sold 25,000 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $16.74, for a total transaction of $418,500.00. Following the sale, the chief operating officer directly owned 25,000 shares in the company, valued at $418,500. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 436,007 shares of company stock worth $7,298,757 in the last quarter.

Key Stories Impacting BTGO

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: Canaccord Genuity started coverage with a Buy rating and a $15 price target (~40.6% implied upside). Benzinga
• Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $15 price target (~40.6% implied upside).
• Positive Sentiment: Mizuho launched coverage with an Outperform rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Rosenblatt Securities started coverage with a Buy rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Craig Hallum initiated coverage with a Buy rating and the highest cited target of $18 (~68.7% implied upside). TickerReport
• Neutral Sentiment: Goldman Sachs initiated a Hold, noting BitGo’s solid growth prospects but flagging crypto volatility and margin risks that justify a cautious view. TipRanks / Goldman Sachs note

About BTGO

BitGo Holdings Inc is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins and settlement services from regulated cold storage. BitGo Holdings Inc is based in NEW YORK.