BTGO (NYSE:BTGO) Trading Down 9.4% – Here’s Why

BTGO (NYSE:BTGO)’s stock price dropped 9.4% during mid-day trading on Monday . The company traded as low as $9.45 and last traded at $9.52. Approximately 318,179 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,477,360 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BTGO shares. Mizuho started coverage on BTGO in a research report on Tuesday, February 17th. They set an “outperform” rating and a $17.00 price target for the company. Compass Point initiated coverage on BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective for the company. Wedbush assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued an “outperform” rating and a $15.00 target price for the company. Clear Str raised shares of BTGO to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, The Goldman Sachs Group assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.05.

BTGO Stock Performance

Insider Buying and Selling at BTGO

In related news, insider Jeff Peter Horowitz sold 116,007 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 311,118 shares of the company’s stock, valued at approximately $5,208,115.32. This trade represents a 27.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jody Mettler sold 25,000 shares of BTGO stock in a transaction dated Friday, January 23rd. The stock was 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 $418,500. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 436,007 shares of company stock valued at $7,298,757.

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.