BTGO (NYSE:BTGO) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts have an average rating of "Moderate Buy" on BTGO from 14 firms (10 buys, 3 holds, 1 strong buy) with a consensus 12‑month price target of about $15.32.
• Company insiders have been net sellers: on Jan 23 the COO sold 25,000 shares (cutting her stake by 50%) and the CFO sold 45,000 shares, and insiders sold a total of 436,007 shares worth $7.30M over the past 90 days.
• BTGO shares traded around $8.04 (50‑day MA $10.32) after reporting quarterly EPS of -$1.03 and revenue of $6.16B, with a 1‑year range of $7.25 to $24.50.

Shares of BTGO (NYSE:BTGO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen research firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $15.3182.

BTGO has been the subject of a number of recent analyst reports. Zacks Research raised BTGO to a "hold" rating in a research report on Wednesday, February 18th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $15.00 price target on shares of BTGO in a research report on Friday, March 27th. Clear Str raised BTGO to a "strong-buy" rating in a research report on Tuesday, February 17th. Cantor Fitzgerald lowered their price target on BTGO from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, March 27th. Finally, Keefe, Bruyette & Woods raised BTGO to a "hold" rating in a research report on Tuesday, February 17th.

Insiders Place Their Bets

In other news, COO Jody Mettler sold 25,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was 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 approximately $418,500. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward Reginelli sold 45,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $16.74, for a total value of $753,300.00. Following the completion of the transaction, the chief financial officer directly owned 539,000 shares of the company's stock, valued at $9,022,860. This represents a 7.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 436,007 shares of company stock worth $7,298,757.

BTGO Price Performance

Shares of BTGO stock opened at $8.04 on Wednesday. The firm's 50-day moving average is $10.32. BTGO has a 1-year low of $7.25 and a 1-year high of $24.50.

BTGO (NYSE:BTGO - Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported ($1.03) EPS for the quarter. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.11 billion.

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.

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