BTGO (NYSE:BTGO) Stock Price Down 10.8% – Here’s Why

BTGO (NYSE:BTGO)’s share price fell 10.8% during mid-day trading on Tuesday . The company traded as low as $9.52 and last traded at $9.60. 263,324 shares traded hands during trading, a decline of 85% from the average session volume of 1,699,550 shares. The stock had previously closed at $10.76.

Trending Headlines about BTGO

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: Multiple brokerages have initiated coverage with constructive ratings and price targets, emphasizing BitGo’s custody scale and recurring revenue, which supports upside potential. BitGo (BTGO) Stock: Mizuho, Canaccord and Clear Street Initiate With Buy Ratings
• Positive Sentiment: Zacks reported a Clear Street upgrade to “strong-buy,” signaling growing analyst conviction that could support additional inflows. Zacks — Clear Street strong-buy
• Positive Sentiment: Several large firms (Deutsche Bank, Citigroup, Goldman Sachs, Canaccord, Mizuho, Craig Hallum, Rosenblatt, Wedbush and others) have initiated or begun coverage, increasing institutional visibility and analyst touchpoints. Deutsche Bank Initiates Coverage on BTGO
• Neutral Sentiment: Goldman Sachs set a “hold” rating (reported via Zacks), which is less bullish than some peers and could cap near-term upside if other shops follow suit. Zacks — Goldman Sachs hold
• Neutral Sentiment: Trading volume is currently below the stock’s average, which may limit the magnitude of moves until higher-volume follow-through occurs.
• Negative Sentiment: Analysts and commentators note BTGO is down substantially year-to-date (reported ~41.2% YTD), raising questions about valuation and near-term investor sentiment despite fresh buy calls. Is Bitgo Holdings (BTGO) Pricing Reflect Its 41.2% Year-To-Date Share Price Decline

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Rosenblatt Securities began coverage on shares of BTGO in a research report on Tuesday. They issued a “buy” rating and a $17.00 price objective for the company. The Goldman Sachs Group started coverage on BTGO in a report on Tuesday. They issued a “neutral” rating and a $11.50 price target for the company. Citigroup started coverage on BTGO in a report on Tuesday. They set a “buy” rating and a $18.00 price objective on the stock. Mizuho started coverage on BTGO in a report on Tuesday. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Wall Street Zen upgraded shares of BTGO to a “hold” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $16.05.

BTGO Price Performance

Insider Buying and Selling at BTGO

In other BTGO news, CRO Chen Fang sold 250,000 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $16.74, for a total transaction of $4,185,000.00. Following the sale, the executive owned 1,233,491 shares in the company, valued at approximately $20,648,639.34. This represents a 16.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff Peter Horowitz sold 116,007 shares of the business’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 $1,941,957.18. Following the completion of 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 SEC filing for this sale provides additional information. Insiders sold 436,007 shares of company stock worth $7,298,757 over the last ninety days.

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.