BTGO’s (NYSE:BTGO) Quiet Period Set To Expire Tomorrow

BTGO’s (NYSE:BTGO) quiet period is set to expire on Tuesday, March 3rd. BTGO had issued 11,821,595 shares in its public offering on January 22nd. The total size of the offering was $212,788,710 based on an initial share price of $18.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BTGO. Wedbush began coverage on BTGO in a research report on Tuesday, February 17th. They issued an “outperform” rating and a $15.00 target price on the stock. Compass Point began coverage on BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 price target on the stock. Wells Fargo & Company began coverage on BTGO in a report on Tuesday, February 17th. They issued an “overweight” rating and a $13.00 price objective for the company. Canaccord Genuity Group began coverage on shares of BTGO in a report on Tuesday, February 17th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised shares of BTGO to a “hold” rating in a research report on Tuesday, February 17th. One investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.05.

BTGO Trading Down 6.9%

Shares of BTGO stock opened at $9.78 on Monday. BTGO has a 12-month low of $9.29 and a 12-month high of $24.50.

Insider Transactions at BTGO

In other BTGO news, CFO Edward Reginelli sold 45,000 shares of the stock in a transaction 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 transaction, the chief financial officer owned 539,000 shares in the company, valued at $9,022,860. This trade represents a 7.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jody Mettler sold 25,000 shares of BTGO 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 sale, the chief operating officer directly owned 25,000 shares of the company’s stock, valued at $418,500. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 436,007 shares of company stock valued at $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.