BTGO (NYSE:BTGO) Stock Price Up 8.8% – Here’s What Happened

BTGO (NYSE:BTGO)’s share price rose 8.8% during mid-day trading on Wednesday . The stock traded as high as $11.98 and last traded at $11.88. Approximately 198,125 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 881,107 shares. The stock had previously closed at $10.92.

Analyst Ratings Changes

BTGO has been the subject of several recent analyst reports. Mizuho decreased their price objective on shares of BTGO from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Craig Hallum initiated coverage on shares of BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $18.00 price objective for the company. Weiss Ratings initiated coverage on shares of BTGO in a report on Wednesday, April 15th. They issued a “sell (d)” rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of BTGO in a report on Friday, March 27th. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.32.

BTGO Trading Up 6.2%

The business has a fifty day moving average of $9.94.

BTGO (NYSE:BTGO) last issued its earnings results on Thursday, March 26th. The company reported ($1.03) earnings per share for the quarter. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.11 billion. As a group, sell-side analysts forecast that BTGO will post 0.05 EPS for the current fiscal year.

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 that occurred on 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 completion of the sale, the insider directly owned 311,118 shares in the company, valued at approximately $5,208,115.32. This trade represents a 27.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Chen Fang sold 250,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive directly owned 1,233,491 shares of the company’s stock, valued at $20,648,639.34. This represents a 16.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, 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.