BTGO (NYSE:BTGO) Given “Buy” Rating at Canaccord Genuity Group

BTGO (NYSE:BTGO)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a note issued to investors on Friday,Benzinga reports. They presently have a $15.00 price objective on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 64.91% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Mizuho initiated coverage on shares of BTGO in a research report on Tuesday, February 17th. They set an “outperform” rating and a $17.00 target price on the stock. Clear Str raised BTGO to a “strong-buy” rating in a research note on Tuesday, February 17th. Craig Hallum began coverage on BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $18.00 target price on the stock. Wells Fargo & Company initiated coverage on BTGO in a research report on Tuesday, February 17th. They issued an “overweight” rating and a $13.00 price target for the company. Finally, Compass Point initiated coverage on shares of BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.95.

BTGO Trading Down 8.2%

BTGO stock opened at $9.10 on Friday. The company has a 50 day simple moving average of $10.93. BTGO has a 1-year low of $9.02 and a 1-year high of $24.50.

Insider Buying and Selling

In other BTGO news, CRO Chen Fang sold 250,000 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $16.74, for a total value of $4,185,000.00. Following the completion of the transaction, the executive directly owned 1,233,491 shares in the company, valued at approximately $20,648,639.34. The trade was a 16.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jody Mettler sold 25,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total value of $418,500.00. Following the completion of the transaction, the chief operating officer 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. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 436,007 shares of company stock valued at $7,298,757.

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.