BTGO (NYSE:BTGO) Sets New 12-Month Low – Here’s Why

BTGO (NYSE:BTGO)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $9.29 and last traded at $9.46, with a volume of 609433 shares. The stock had previously closed at $10.51.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Canaccord Genuity Group began coverage on BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $15.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of BTGO in a research report on Tuesday, February 17th. They set an “overweight” rating and a $18.00 price target on the stock. Rosenblatt Securities began coverage on shares of BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $11.50 target price for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of BTGO in a research report on Tuesday, February 17th. They set a “buy” rating and a $17.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.05.

BTGO Trading Up 12.4%

Insider Buying and Selling at BTGO

In other BTGO news, COO Jody Mettler sold 25,000 shares of BTGO stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $418,500.00. Following the completion of the sale, the chief operating officer owned 25,000 shares of the company’s stock, valued at approximately $418,500. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Chen Fang sold 250,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $4,185,000.00. Following the sale, the executive owned 1,233,491 shares of the company’s stock, valued at $20,648,639.34. The trade was a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 436,007 shares of company stock valued at $7,298,757.

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.