BTGO (NYSE:BTGO) Hits New 1-Year Low - Here's Why

Key Points

• BTGO hit a new 52-week low—shares fell as low as $9.26 and were trading around $9.21 (down 8.5%), trading below its 50-day moving average of $10.98.
• Wall Street sentiment is mixed but leans positive with a consensus "Moderate Buy" and an average analyst target of $15.95, while individual ratings and targets range from sell to strong-buy and $11.50 to $17.00.
• Significant insider selling has occurred recently: executives sold 436,007 shares totaling about $7.3 million in the last 90 days, materially reducing their positions.

BTGO (NYSE:BTGO - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $9.26 and last traded at $9.2050, with a volume of 159732 shares. The stock had previously closed at $9.91.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Clear Str upgraded BTGO to a "strong-buy" rating in a research report on Tuesday, February 17th. Compass Point began coverage on shares of BTGO in a research report on Tuesday, February 17th. They issued a "buy" rating and a $17.00 price objective for the company. Wall Street Zen lowered shares of BTGO from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Citigroup cut their price target on BTGO from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. Finally, The Goldman Sachs Group initiated coverage on BTGO in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $11.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.95.

BTGO Stock Down 8.5%

The firm has a fifty day moving average price of $10.98.

Insider Buying and Selling at BTGO

In related news, insider Jeff Peter Horowitz sold 116,007 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $16.74, for a total value of $1,941,957.18. Following the completion of the sale, the insider directly owned 311,118 shares in the company, valued at approximately $5,208,115.32. This represents a 27.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Chen Fang sold 250,000 shares of the business's stock in a transaction dated 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 transaction, the executive owned 1,233,491 shares in the company, valued at approximately $20,648,639.34. This represents a 16.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 436,007 shares of company stock valued at $7,298,757 in the last ninety days.

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.

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