BTGO’s Quiet Period To Expire on March 3rd (NYSE:BTGO)

BTGO’s (NYSE:BTGO) quiet period will end on Tuesday, March 3rd. BTGO had issued 11,821,595 shares in its public offering on January 22nd. The total size of the offering was $212,788,710 based on an initial share price of $18.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wedbush assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They set an “outperform” rating and a $15.00 target price on the stock. Mizuho assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $17.00 price target for the company. Citigroup assumed coverage on shares of BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $18.00 price objective on the stock. The Goldman Sachs Group began coverage on BTGO in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 target price for the company. Finally, Clear Str raised BTGO to a “strong-buy” rating in a research report on Tuesday, February 17th. 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 stock. Based on data from MarketBeat.com, BTGO presently has a consensus rating of “Moderate Buy” and an average target price of $16.05.

BTGO Price Performance

NYSE BTGO opened at $10.79 on Thursday. BTGO has a 12 month low of $9.29 and a 12 month high of $24.50.

Insider Activity

In other BTGO news, insider Jeff Peter Horowitz sold 116,007 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $16.74, for a total value of $1,941,957.18. Following the completion of the sale, the insider directly owned 311,118 shares of the company’s stock, valued at approximately $5,208,115.32. This represents a 27.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jody Mettler sold 25,000 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $418,500.00. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 436,007 shares of company stock worth $7,298,757.

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.