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

BTGO (NYSE:BTGO) had its target price reduced by Citigroup from $18.00 to $17.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the company. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Canaccord Genuity Group initiated coverage on BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of BTGO to a “hold” rating in a report on Tuesday, February 17th. Rosenblatt Securities began coverage on shares of BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Wedbush started coverage on shares of BTGO in a research note on Tuesday, February 17th. They set an “outperform” rating and a $15.00 target price for the company. 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.com, BTGO currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.95.

BTGO Stock Down 4.3%

Shares of BTGO stock opened at $9.62 on Wednesday. BTGO has a fifty-two week low of $9.29 and a fifty-two week high of $24.50. The stock has a 50 day simple moving average of $11.06.

Insider Activity

In related news, COO Jody Mettler sold 25,000 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 value of $418,500.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward Reginelli sold 45,000 shares of BTGO 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 $753,300.00. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 436,007 shares of company stock valued at $7,298,757 over the last three months.

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.