BTGO (NYSE:BTGO) Shares Up 8.7% – Here’s What Happened

BTGO (NYSE:BTGO)’s share price traded up 8.7% on Wednesday . The stock traded as high as $8.85 and last traded at $8.9490. 78,972 shares were traded during mid-day trading, a decline of 92% from the average session volume of 987,463 shares. The stock had previously closed at $8.23.

Analyst Upgrades and Downgrades

BTGO has been the topic of a number of recent analyst reports. Compass Point began coverage on BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $17.00 target price for the company. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Wells Fargo & Company started coverage on shares of BTGO in a report on Tuesday, February 17th. They issued an “overweight” rating and a $13.00 price target for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of BTGO from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, BTGO has an average rating of “Moderate Buy” and a consensus target price of $15.32.

BTGO Price Performance

The company’s fifty day moving average is $10.74.

BTGO (NYSE:BTGO) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($1.03) earnings per share (EPS) for the quarter. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.11 billion.

Insider Transactions at BTGO

In other BTGO news, COO Jody Mettler sold 25,000 shares of BTGO stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $418,500.00. Following the sale, the chief operating officer owned 25,000 shares of the company’s stock, valued at $418,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the chief financial officer directly owned 539,000 shares of the company’s stock, valued at $9,022,860. The trade was a 7.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 436,007 shares of company stock worth $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.