Shares of BTGO (NYSE:BTGO – Get Free Report) reached a new 52-week low on Thursday. The company traded as low as $4.46 and last traded at $4.5910, with a volume of 605,445 shares traded. The stock had previously closed at $5.42.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on BTGO. Citigroup decreased their price target on shares of BTGO from $17.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Rosenblatt Securities dropped their price objective on shares of BTGO from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Mizuho dropped their price objective on shares of BTGO from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. Weiss Ratings restated a “sell (d)” rating on shares of BTGO in a report on Friday, October 9th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of BTGO in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.77.
View Our Latest Research Report on BTGO
BTGO Stock Performance
The firm has a market cap of $571.88 million and a price-to-earnings ratio of -3.36. The firm has a 50-day moving average price of $6.73 and a two-hundred day moving average price of $7.83.
BTGO (NYSE:BTGO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.13). The company had revenue of $4.33 billion during the quarter. Research analysts anticipate that BTGO will post -0.27 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of BTGO. Stone Ridge Holdings Group LP purchased a new stake in BTGO in the third quarter valued at $43,908,000. Tidal Investments LLC purchased a new stake in shares of BTGO in the 2nd quarter valued at about $10,327,000. ParaFi Capital LP acquired a new stake in shares of BTGO in the 2nd quarter valued at about $1,939,000. State Street Corp acquired a new stake in shares of BTGO in the 2nd quarter valued at about $1,202,000. Finally, Penn Capital Management Company LLC acquired a new stake in shares of BTGO in the 3rd quarter valued at about $976,000.
About BTGO
BitGo Holdings, Inc (NYSE: BTGO) is a financial technology company focused on digital asset infrastructure and services. The company provides institutional-grade solutions designed to help businesses securely custody, manage, trade and settle cryptocurrencies and other blockchain-based assets.
Its offerings include qualified digital asset custody, multi-signature wallets, portfolio and treasury management, trading and liquidity services, staking, lending and settlement solutions. BitGo also provides technology and infrastructure that supports cryptocurrency exchanges, financial institutions, investment firms, token issuers and other organizations participating in the digital asset ecosystem.
Founded in 2013, BitGo serves institutional clients in the United States and international markets.
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