BTGO (NYSE:BTGO) Trading Down 9.4% – Should You Sell?

BTGO (NYSE:BTGO) shares traded down 9.4% during mid-day trading on Monday . The stock traded as low as $9.45 and last traded at $9.52. 318,179 shares were traded during trading, a decline of 78% from the average session volume of 1,477,360 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

BTGO has been the topic of several recent research reports. Keefe, Bruyette & Woods upgraded shares of BTGO to a “hold” rating in a report on Tuesday, February 17th. The Goldman Sachs Group began coverage on BTGO in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 price objective on the stock. Compass Point started coverage on BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 target price for the company. Wall Street Zen downgraded BTGO from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company started coverage on BTGO in a research report on Tuesday, February 17th. They set an “overweight” rating and a $13.00 price target on the stock. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.05.

BTGO Price Performance

Insider Transactions at BTGO

In other news, COO Jody Mettler sold 25,000 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 $418,500.00. Following the completion of the sale, the chief operating officer owned 25,000 shares in the company, valued at $418,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeff Peter Horowitz sold 116,007 shares of the business’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 $1,941,957.18. Following the completion of the sale, the insider owned 311,118 shares in the company, valued at $5,208,115.32. The trade was a 27.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 436,007 shares of company stock worth $7,298,757 over the last 90 days.

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.