BTGO (NYSE:BTGO) Shares Up 8.1% – Here’s Why

BTGO (NYSE:BTGO)’s stock price rose 8.1% during trading on Wednesday . The stock traded as high as $10.41 and last traded at $10.38. Approximately 143,609 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,380,659 shares. The stock had previously closed at $9.60.

Analysts Set New Price Targets

BTGO has been the subject of several analyst reports. Clear Str raised BTGO to a “strong-buy” rating in a report on Tuesday, February 17th. Compass Point started coverage on BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price target for the company. Citigroup initiated coverage on BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $18.00 price target for the company. Wall Street Zen lowered shares of BTGO from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Wedbush started coverage on shares of BTGO in a report on Tuesday, February 17th. They set an “outperform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.05.

BTGO Price Performance

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 transaction of $753,300.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jody Mettler sold 25,000 shares of the company’s 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 of the company’s stock, valued at $418,500. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 436,007 shares of company stock worth $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.