Shares of BTGO (NYSE:BTGO – Get Free Report) shot up 7.2% on Monday . The stock traded as high as $5.04 and last traded at $5.09. 343,052 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,150,005 shares. The stock had previously closed at $4.75.
Wall Street Analyst Weigh In
BTGO has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of BTGO in a research note on Monday, June 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of BTGO in a research report on Monday, July 13th. Mizuho lowered their target price on BTGO from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Rosenblatt Securities reduced their price target on BTGO from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.14.
Read Our Latest Report on BTGO
BTGO Price Performance
BTGO (NYSE:BTGO – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.55). The firm had revenue of $3.77 billion for the quarter. BTGO’s revenue for the quarter was up 112.6% compared to the same quarter last year. Equities research analysts forecast that BTGO will post -0.32 EPS for the current fiscal year.
BTGO declared that its Board of Directors has initiated a share buyback program on Wednesday, June 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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.
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