BTGO (NYSE:BTGO) Hits New 52-Week Low – What’s Next?

BTGO (NYSE:BTGO)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.29 and last traded at $9.46, with a volume of 609433 shares changing hands. The stock had previously closed at $10.51.

Analyst Ratings Changes

BTGO has been the topic of a number of recent analyst reports. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research report on Saturday. Cantor Fitzgerald began coverage on BTGO in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $18.00 price target for the company. Wedbush began coverage on shares of BTGO in a report on Tuesday, February 17th. They issued an “outperform” rating and a $15.00 price target on the stock. Rosenblatt Securities initiated coverage on shares of BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Craig Hallum started coverage on shares of BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.05.

BTGO Trading Down 10.0%

Insider Buying and Selling at BTGO

In other BTGO news, CFO Edward Reginelli sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $753,300.00. Following the completion of the transaction, the chief financial officer owned 539,000 shares of the company’s stock, valued at approximately $9,022,860. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Chen Fang sold 250,000 shares of BTGO stock in a transaction that occurred 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 of the company’s stock, valued at $20,648,639.34. The trade was a 16.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 436,007 shares of company stock valued at $7,298,757.

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.