BTGO $BTGO Shares Newly Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC bought a new position in BTGO (NYSE:BTGO) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 131,830 shares of the company’s stock, valued at approximately $976,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BTGO. Vise Technologies Inc. purchased a new stake in shares of BTGO during the 3rd quarter valued at approximately $83,000. Vontobel Holding Ltd. purchased a new position in BTGO in the 3rd quarter valued at approximately $75,000. Aspiriant LLC purchased a new position in BTGO in the 3rd quarter valued at approximately $135,000. State Street Corp purchased a new position in BTGO in the 2nd quarter valued at approximately $1,202,000. Finally, Tidal Investments LLC bought a new stake in BTGO during the 2nd quarter valued at $10,327,000.

Key Headlines Impacting BTGO

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: BitGo reported third-quarter EPS of $0.36, beating the consensus estimate of a $0.04 loss. Net income rose 94% to $44.1 million, and the company highlighted its institutional platform and new-product ambitions as potential growth drivers. However, much of the profit increase came from an unrealized cryptocurrency gain. Read More.
• Positive Sentiment: BitGo deepened its relationship with Aptos, potentially strengthening its digital-asset ecosystem and service offerings. Read More.
• Positive Sentiment: Recent coverage pointed to BitGo’s $83 billion platform, product expansion and integration of NYDIG’s institutional trading business as building blocks for future growth. Read More.
• Negative Sentiment: Revenue fell 51% year over year to $2.85 billion and missed the cited $4.2 billion consensus estimate by 32%, amid lower trading activity. BitGo also recorded a $19.2 million operating loss, raising concerns about underlying business performance despite the EPS beat. Read More.
• Negative Sentiment: Wells Fargo, Canaccord Genuity and Rosenblatt each lowered their BTGO price targets. They maintained Overweight or Buy ratings, but the target reductions reflect more cautious expectations. Read More.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BTGO shares. Weiss Ratings restated a “sell (d)” rating on shares of BTGO in a research report on Friday, October 9th. Canaccord Genuity Group cut their price target on BTGO from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company reduced their price target on BTGO from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup decreased their price objective on BTGO from $17.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, Mizuho decreased their price objective on BTGO from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.05.

BTGO Price Performance

Shares of BTGO stock opened at $4.23 on Wednesday. The company’s 50-day moving average price is $6.63 and its 200-day moving average price is $7.79. BTGO has a 12-month low of $4.14 and a 12-month high of $24.50.

BTGO (NYSE:BTGO) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.40. The company had revenue of $2.85 billion during the quarter. BTGO had a negative net margin of 0.50% and a negative return on equity of 657.95%. Equities analysts forecast that BTGO will post -0.27 earnings per share for the current year.

BTGO Company Profile

BitGo Holdings, Inc. (NYSE: BTGO) provides digital-asset infrastructure and services for institutional clients, including cryptocurrency custody, wallet technology, trading, staking, financing and settlement. Its platform is designed to help businesses manage, secure and transact in digital assets. Founded in 2013 by Mike Belshe and Ben Davenport, BitGo has built its business around security and institutional-grade tools for digital assets. The company serves organizations such as financial firms, funds, exchanges and businesses that need infrastructure for holding or using cryptocurrencies.