BTGO (NYSE:BTGO) Given Average Rating of “Moderate Buy” by Analysts

Shares of BTGO (NYSE:BTGO) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $15.1364.

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of BTGO in a research note on Monday, July 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of BTGO in a research report on Monday, June 22nd. Finally, Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th.

Insider Activity

In other news, CEO Michael Belshe sold 38,691 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $4.89, for a total value of $189,198.99. Following the transaction, the chief executive officer owned 798,464 shares in the company, valued at approximately $3,904,488.96. This represents a 4.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Edward Reginelli sold 9,021 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $4.89, for a total transaction of $44,112.69. Following the sale, the chief financial officer owned 582,489 shares in the company, valued at approximately $2,848,371.21. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 48,042 shares of company stock valued at $234,977 over the last ninety days.

BTGO Price Performance

BTGO stock opened at $5.06 on Tuesday. The stock has a market cap of $586.76 million and a P/E ratio of -3.92. The stock has a 50 day moving average of $5.21. BTGO has a twelve month low of $4.66 and a twelve month high of $24.50.

BTGO (NYSE:BTGO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). The company had revenue of $3.77 billion during the quarter. The business’s quarterly revenue was up 112.6% compared to the same quarter last year. Research analysts predict that BTGO will post -0.32 earnings per share for the current fiscal year.

BTGO announced that its board has authorized a share repurchase plan on Wednesday, June 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 7.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.