BTGO (NYSE:BTGO) Shares Gap Up – Here’s Why

Shares of BTGO (NYSE:BTGO) gapped up before the market opened on Monday . The stock had previously closed at $4.71, but opened at $5.04. BTGO shares last traded at $5.3990, with a volume of 599,244 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BTGO. Keefe, Bruyette & Woods raised BTGO to a “hold” rating in a report on Tuesday, February 17th. Compass Point initiated coverage on BTGO in a report on Tuesday, February 17th. They set a “buy” rating and a $17.00 target price for the company. Craig Hallum initiated coverage on BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $18.00 price target for the company. Zacks Research upgraded BTGO to a “hold” rating in a research report on Wednesday, February 18th. Finally, Clear Str raised BTGO to a “strong-buy” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.14.

BTGO Stock Up 17.9%

The company has a 50-day moving average of $8.97.

BTGO (NYSE:BTGO) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). The business had revenue of $3.77 billion during the quarter. The business’s revenue for the quarter was up 112.6% compared to the same quarter last year. As a group, analysts expect that BTGO will post -0.28 EPS for the current fiscal year.

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.