131,830 Shares of BTGO $BTGO Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC acquired a new position in BTGO (NYSE:BTGO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 131,830 shares of the company’s stock, valued at approximately $976,000. Penn Capital Management Company LLC owned approximately 0.11% of BTGO as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp bought a new position in shares of BTGO during the 2nd quarter worth approximately $1,202,000. Tidal Investments LLC purchased a new position in shares of BTGO in the 2nd quarter worth approximately $10,327,000. ParaFi Capital LP bought a new position in shares of BTGO in the second quarter valued at approximately $1,939,000. Aspiriant LLC bought a new position in shares of BTGO in the third quarter valued at approximately $135,000. Finally, Vise Technologies Inc. bought a new position in shares of BTGO in the third quarter valued at approximately $83,000.

BTGO Trading Down 17.0%

BTGO stock opened at $4.23 on Wednesday. BTGO has a 12 month low of $4.14 and a 12 month high of $24.50. The business’s 50 day simple moving average is $6.63 and its 200 day simple moving average is $7.79.

BTGO (NYSE:BTGO) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.40. BTGO had a negative return on equity of 657.95% and a negative net margin of 0.50%. The business had revenue of $2.85 billion during the quarter. Sell-side analysts expect that BTGO will post -0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BTGO. Citigroup dropped their price target on BTGO from $17.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings reissued a “sell (d)” rating on shares of BTGO in a research report on Friday, October 9th. Rosenblatt Securities reduced their price objective on BTGO from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday. Cantor Fitzgerald decreased their target price on BTGO from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Finally, Mizuho lowered their target price on BTGO from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BTGO presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.05.

Key Headlines Impacting BTGO

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: BitGo reported third-quarter EPS of $0.36, beating the consensus estimate of a $0.04 loss. Net income rose 94% to $44.1 million, and the company highlighted its institutional platform and new-product ambitions as potential growth drivers. However, much of the profit increase came from an unrealized cryptocurrency gain. Read More.
• Positive Sentiment: BitGo deepened its relationship with Aptos, potentially strengthening its digital-asset ecosystem and service offerings. Read More.
• Positive Sentiment: Recent coverage pointed to BitGo’s $83 billion platform, product expansion and integration of NYDIG’s institutional trading business as building blocks for future growth. Read More.
• Negative Sentiment: Revenue fell 51% year over year to $2.85 billion and missed the cited $4.2 billion consensus estimate by 32%, amid lower trading activity. BitGo also recorded a $19.2 million operating loss, raising concerns about underlying business performance despite the EPS beat. Read More.
• Negative Sentiment: Wells Fargo, Canaccord Genuity and Rosenblatt each lowered their BTGO price targets. They maintained Overweight or Buy ratings, but the target reductions reflect more cautious expectations. Read More.

About BTGO

BitGo Holdings, Inc. (NYSE: BTGO) provides digital-asset infrastructure and services for institutional clients, including cryptocurrency custody, wallet technology, trading, staking, financing and settlement. Its platform is designed to help businesses manage, secure and transact in digital assets. Founded in 2013 by Mike Belshe and Ben Davenport, BitGo has built its business around security and institutional-grade tools for digital assets. The company serves organizations such as financial firms, funds, exchanges and businesses that need infrastructure for holding or using cryptocurrencies.