BTGO (NYSE:BTGO) Stock Price Up 8.8% – Here’s What Happened

BTGO (NYSE:BTGO)’s share price was up 8.8% during trading on Wednesday . The company traded as high as $11.98 and last traded at $11.88. Approximately 198,125 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 881,107 shares. The stock had previously closed at $10.92.

Analysts Set New Price Targets

A number of equities analysts recently commented on BTGO shares. Weiss Ratings started coverage on shares of BTGO in a research note on Wednesday, April 15th. They issued a “sell (d)” rating for the company. Compass Point started coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of BTGO in a research note on Friday, March 27th. Wells Fargo & Company began coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $13.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of BTGO in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.32.

BTGO Trading Up 6.2%

The business has a 50-day moving average of $9.94.

BTGO (NYSE:BTGO) last released its earnings results on Thursday, March 26th. The company reported ($1.03) earnings per share (EPS) for the quarter. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.11 billion. On average, sell-side analysts expect that BTGO will post 0.05 earnings per share for the current year.

Insider Activity at BTGO

In other news, CRO Chen Fang sold 250,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction 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 trade represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff Peter Horowitz sold 116,007 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $1,941,957.18. Following the transaction, the insider owned 311,118 shares in the company, valued at $5,208,115.32. This represents a 27.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 436,007 shares of company stock worth $7,298,757 in the last quarter.

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.