Citigroup Cuts BTGO (NYSE:BTGO) Price Target to $17.00

BTGO (NYSE:BTGO) had its price target dropped by Citigroup from $18.00 to $17.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 66.18% from the company’s current price.

Several other brokerages also recently weighed in on BTGO. The Goldman Sachs Group initiated coverage on BTGO in a report on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 price target on the stock. Canaccord Genuity Group began coverage on BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $15.00 price objective on the stock. Rosenblatt Securities began coverage on BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $17.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 target price for the company. Finally, Zacks Research raised shares of BTGO to a “hold” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, BTGO has an average rating of “Moderate Buy” and an average price target of $15.95.

BTGO Price Performance

NYSE BTGO traded down $0.49 during trading on Wednesday, hitting $10.23. The stock had a trading volume of 161,564 shares, compared to its average volume of 1,048,862. BTGO has a one year low of $9.29 and a one year high of $24.50.

Insider Transactions at BTGO

In other BTGO news, COO Jody Mettler sold 25,000 shares of BTGO stock in a transaction on 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 directly owned 25,000 shares of the company’s stock, valued at $418,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Edward Reginelli sold 45,000 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 value of $753,300.00. Following the completion of the sale, the chief financial officer owned 539,000 shares of the company’s stock, valued at $9,022,860. This represents a 7.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 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.