BTGO (NYSE:BTGO) Given Consensus Rating of “Moderate Buy” by Brokerages

BTGO (NYSE:BTGO) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.35.

A number of brokerages have weighed in on BTGO. Mizuho initiated coverage on BTGO in a research report on Tuesday. They issued an “outperform” rating and a $17.00 price target for the company. Compass Point initiated coverage on BTGO in a research report on Tuesday. They set a “buy” rating and a $17.00 target price for the company. Wall Street Zen raised shares of BTGO to a “hold” rating in a research report on Saturday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of BTGO in a report on Tuesday. They set a “buy” rating and a $17.00 price objective for the company. Finally, Rosenblatt Securities began coverage on shares of BTGO in a report on Tuesday. They set a “buy” rating and a $17.00 price target for the company.

BTGO Price Performance

BTGO stock opened at $10.67 on Tuesday. BTGO has a 1-year low of $9.66 and a 1-year high of $24.50.

Key Headlines Impacting BTGO

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: Canaccord Genuity started coverage with a Buy rating and a $15 price target (~40.6% implied upside). Benzinga
• Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $15 price target (~40.6% implied upside).
• Positive Sentiment: Mizuho launched coverage with an Outperform rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Rosenblatt Securities started coverage with a Buy rating and a $17 target (~59.3% implied upside). Benzinga
• Positive Sentiment: Craig Hallum initiated coverage with a Buy rating and the highest cited target of $18 (~68.7% implied upside). TickerReport
• Neutral Sentiment: Goldman Sachs initiated a Hold, noting BitGo’s solid growth prospects but flagging crypto volatility and margin risks that justify a cautious view. TipRanks / Goldman Sachs note

Insiders Place Their Bets

In other BTGO news, COO Jody Mettler sold 25,000 shares of the firm’s stock in a transaction 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 directly owned 25,000 shares in the company, valued at $418,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward Reginelli sold 45,000 shares of the company’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 $753,300.00. Following the completion of the transaction, the chief financial officer directly owned 539,000 shares of the company’s stock, valued at approximately $9,022,860. This trade represents a 7.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, 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.