BTGO (NYSE:BTGO) Trading Up 10.2% – What’s Next?

BTGO (NYSE:BTGO)’s stock price traded up 10.2% during trading on Tuesday . The stock traded as high as $12.05 and last traded at $12.00. 416,621 shares were traded during trading, a decline of 63% from the average session volume of 1,134,959 shares. The stock had previously closed at $10.89.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Cantor Fitzgerald initiated coverage on BTGO in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $18.00 price objective on the stock. Rosenblatt Securities started coverage on shares of BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 price objective on the stock. Zacks Research upgraded shares of BTGO to a “hold” rating in a report on Wednesday, February 18th. Finally, Canaccord Genuity Group started coverage on BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, BTGO has a consensus rating of “Moderate Buy” and an average target price of $16.05.

BTGO Price Performance

Insiders Place Their Bets

In other news, COO Jody Mettler sold 25,000 shares of BTGO 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 transaction, the chief operating officer owned 25,000 shares in the company, valued at approximately $418,500. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward Reginelli sold 45,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $16.74, for a total value of $753,300.00. Following the completion of the sale, the chief financial officer directly owned 539,000 shares of the company’s stock, valued at approximately $9,022,860. This represents a 7.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 436,007 shares of company stock worth $7,298,757.

BTGO Company Profile

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.