BTGO (NYSE:BTGO) Shares Gap Up – Still a Buy?

BTGO (NYSE:BTGO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $7.67, but opened at $8.01. BTGO shares last traded at $7.4190, with a volume of 237,501 shares.

Analyst Ratings Changes

BTGO has been the topic of a number of research analyst reports. Citigroup lowered their price target on BTGO from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Clear Str raised BTGO to a “strong-buy” rating in a research report on Tuesday, February 17th. Canaccord Genuity Group restated a “buy” rating and set a $15.00 target price on shares of BTGO in a research note on Friday. Compass Point initiated coverage on shares of BTGO in a report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of BTGO in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.59.

BTGO Trading Down 3.7%

The company’s 50-day moving average price is $10.86.

BTGO (NYSE:BTGO) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($1.03) earnings per share (EPS) for the quarter. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.11 billion.

Insider Buying and Selling at BTGO

In other news, insider Jeff Peter Horowitz sold 116,007 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 $1,941,957.18. Following the completion of the sale, the insider directly owned 311,118 shares in the company, valued at $5,208,115.32. This represents a 27.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Edward Reginelli sold 45,000 shares of the firm’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 transaction, the chief financial officer directly owned 539,000 shares in the company, valued at approximately $9,022,860. This represents a 7.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 436,007 shares of company stock worth $7,298,757.

BTGO Company Profile

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.