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

BTGO (NYSE:BTGO) shares reached a new 52-week low on Thursday . The company traded as low as $9.26 and last traded at $9.2050, with a volume of 159732 shares trading hands. The stock had previously closed at $9.91.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BTGO shares. Wedbush initiated coverage on BTGO in a research note on Tuesday, February 17th. They set an “outperform” rating and a $15.00 target price for the company. Zacks Research raised BTGO to a “hold” rating in a research report on Wednesday, February 18th. Cantor Fitzgerald started coverage on BTGO in a research note on Tuesday, February 17th. They set an “overweight” rating and a $18.00 target price for the company. Wall Street Zen lowered shares of BTGO from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.95.

BTGO Trading Down 8.5%

The business has a fifty day simple moving average of $10.98.

Insider Buying and Selling at BTGO

In other news, 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 transaction of $753,300.00. Following the sale, the chief financial officer directly owned 539,000 shares in the company, valued at approximately $9,022,860. This represents a 7.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Peter Horowitz sold 116,007 shares of the business’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 value of $1,941,957.18. Following the transaction, the insider owned 311,118 shares of the company’s stock, 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 ninety days.

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.