BTGO (NYSE:BTGO) Shares Down 9.4% – Should You Sell?

BTGO (NYSE:BTGO)’s share price traded down 9.4% during mid-day trading on Monday . The stock traded as low as $8.05 and last traded at $8.05. 1,191,863 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 853,842 shares. The stock had previously closed at $8.89.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price objective on shares of BTGO in a research report on Friday, March 27th. Rosenblatt Securities lowered their target price on BTGO from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Craig Hallum initiated coverage on BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $18.00 target price for the company. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Mizuho lowered their target price on BTGO from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.14.

BTGO Price Performance

The stock’s 50 day moving average is $10.17.

BTGO (NYSE:BTGO) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). The business had revenue of $3.77 billion during the quarter. The company’s revenue for the quarter was up 112.6% on a year-over-year basis. As a group, research analysts forecast that BTGO will post -0.24 earnings per share for the current year.

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.