Rosenblatt Securities Lowers BTGO (NYSE:BTGO) Price Target to $15.00

BTGO (NYSE:BTGO) had its price objective lowered by investment analysts at Rosenblatt Securities from $17.00 to $15.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 64.91% from the stock’s previous close.

Several other brokerages have also recently weighed in on BTGO. Zacks Research upgraded shares of BTGO to a “hold” rating in a research note on Wednesday, February 18th. Citigroup lowered their target price on shares of BTGO from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. The Goldman Sachs Group assumed coverage on shares of BTGO in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 price target for the company. Keefe, Bruyette & Woods upgraded BTGO to a “hold” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded BTGO from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BTGO presently has an average rating of “Moderate Buy” and an average target price of $15.77.

BTGO Price Performance

Shares of BTGO stock opened at $9.10 on Friday. The company has a 50-day simple moving average of $10.93. BTGO has a 52-week low of $9.02 and a 52-week high of $24.50.

Insider Activity

In other BTGO news, CFO Edward Reginelli sold 45,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 539,000 shares in the company, valued at $9,022,860. This represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jody Mettler sold 25,000 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 value of $418,500.00. Following the completion of the sale, the chief operating officer directly owned 25,000 shares in the company, valued at approximately $418,500. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 436,007 shares of company stock valued at $7,298,757.

About BTGO

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.