Wells Fargo & Company Begins Coverage on BTGO (NYSE:BTGO)

Equities researchers at Wells Fargo & Company started coverage on shares of BTGO (NYSE:BTGO) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set an “overweight” rating and a $13.00 price target on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 29.35% from the stock’s current price.

Other analysts also recently issued reports about the company. Cantor Fitzgerald initiated coverage on BTGO in a report on Tuesday. They issued an “overweight” rating and a $18.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of BTGO in a report on Tuesday. They set a “buy” rating and a $17.00 target price on the stock. Compass Point initiated coverage on shares of BTGO in a research report on Tuesday. They issued a “buy” rating and a $17.00 price target for the company. Rosenblatt Securities started coverage on shares of BTGO in a report on Tuesday. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Mizuho began coverage on BTGO in a report on Tuesday. They set an “outperform” rating and a $17.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.05.

BTGO Stock Down 6.6%

Shares of NYSE BTGO opened at $10.05 on Tuesday. BTGO has a twelve month low of $9.66 and a twelve month high of $24.50.

Insider Activity at BTGO

In other BTGO news, 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 transaction, the chief operating officer owned 25,000 shares of the company’s stock, valued at approximately $418,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeff Peter Horowitz sold 116,007 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $1,941,957.18. Following the sale, the insider directly owned 311,118 shares in the company, valued at $5,208,115.32. This trade represents a 27.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 436,007 shares of company stock valued at $7,298,757.

More BTGO News

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: Canaccord Genuity started coverage with a Buy rating and a $15 price target (~40.6% implied upside). Benzinga
• Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $15 price target (~40.6% implied upside).
• Positive Sentiment: Mizuho launched coverage with an Outperform rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Rosenblatt Securities started coverage with a Buy rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Craig Hallum initiated coverage with a Buy rating and the highest cited target of $18 (~68.7% implied upside). TickerReport
• Neutral Sentiment: Goldman Sachs initiated a Hold, noting BitGo’s solid growth prospects but flagging crypto volatility and margin risks that justify a cautious view. TipRanks / Goldman Sachs note

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.