BTGO (NYSE:BTGO) Stock Price Up 8.1% – Still a Buy?

BTGO (NYSE:BTGO) was up 8.1% during mid-day trading on Wednesday . The company traded as high as $10.41 and last traded at $10.38. Approximately 143,609 shares traded hands during trading, a decline of 90% from the average daily volume of 1,380,659 shares. The stock had previously closed at $9.60.

Analyst Ratings Changes

Several research firms have recently weighed in on BTGO. Craig Hallum assumed coverage on shares of BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $18.00 price target for the company. Mizuho started coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $17.00 target price for the company. Wells Fargo & Company started coverage on BTGO in a report on Tuesday, February 17th. They set an “overweight” rating and a $13.00 target price for the company. Citigroup initiated coverage on BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Cantor Fitzgerald started coverage on BTGO in a research report on Tuesday, February 17th. They set an “overweight” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.05.

BTGO Trading Up 11.1%

Insider Buying and Selling

In related news, CFO Edward Reginelli sold 45,000 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 $753,300.00. Following the transaction, the chief financial officer directly owned 539,000 shares in the company, valued at approximately $9,022,860. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Chen Fang sold 250,000 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 $4,185,000.00. Following the sale, the executive directly owned 1,233,491 shares in the company, valued at $20,648,639.34. This trade represents a 16.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 436,007 shares of company stock worth $7,298,757 over the last 90 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.