BTGO (NYSE:BTGO) Trading Up 8.7% – Should You Buy?

BTGO (NYSE:BTGO)’s share price rose 8.7% on Wednesday . The stock traded as high as $8.85 and last traded at $8.9490. Approximately 78,972 shares changed hands during trading, a decline of 92% from the average daily volume of 987,463 shares. The stock had previously closed at $8.23.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BTGO shares. Wall Street Zen downgraded shares of BTGO from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Cantor Fitzgerald lowered their price target on BTGO from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Mizuho dropped their price target on BTGO from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group dropped their price target on BTGO from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, Zacks Research upgraded BTGO to a “hold” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.32.

BTGO Stock Performance

The company has a fifty day moving average of $10.65.

BTGO (NYSE:BTGO) last released its earnings results on Thursday, March 26th. The company reported ($1.03) EPS for the quarter. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.11 billion.

Insider Buying and Selling at BTGO

In other news, CFO Edward Reginelli sold 45,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $16.74, for a total transaction of $753,300.00. Following the transaction, the chief financial officer directly owned 539,000 shares of the company’s stock, valued at approximately $9,022,860. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Chen Fang sold 250,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive directly owned 1,233,491 shares in the company, valued at $20,648,639.34. This trade represents a 16.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 436,007 shares of company stock valued at $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.