BTGO (NYSE:BTGO) Hits New 52-Week Low – What’s Next?

BTGO (NYSE:BTGO)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $9.29 and last traded at $9.46, with a volume of 609433 shares. The stock had previously closed at $10.51.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BTGO. Craig Hallum initiated coverage on BTGO in a report on Tuesday, February 17th. They set a “buy” rating and a $18.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price target for the company. Compass Point began coverage on shares of BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price objective on the stock. Zacks Research upgraded shares of BTGO to a “hold” rating in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group assumed coverage on shares of BTGO in a report on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.05.

BTGO Stock Down 10.0%

Insiders Place Their Bets

In other news, CRO Chen Fang sold 250,000 shares of BTGO stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total value of $4,185,000.00. Following the completion of the sale, the executive directly owned 1,233,491 shares in the company, valued at $20,648,639.34. The trade was a 16.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jody Mettler sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $418,500.00. Following the transaction, the chief operating officer directly owned 25,000 shares of the company’s stock, valued at $418,500. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 436,007 shares of company stock worth $7,298,757 in the last 90 days.

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.