BTGO (NYSE:BTGO) Coverage Initiated at Wells Fargo & Company

Investment analysts at Wells Fargo & Company initiated coverage on shares of BTGO (NYSE:BTGO) in a research note issued to investors on Tuesday,Benzinga reports. The firm set an “overweight” rating and a $13.00 price target on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 29.35% from the stock’s current price.

BTGO has been the subject of several other reports. Cantor Fitzgerald assumed coverage on shares of BTGO in a research report on Tuesday. They set an “overweight” rating and a $18.00 price target for the company. Craig Hallum initiated coverage on BTGO in a report on Tuesday. They set a “buy” rating and a $18.00 price target on the stock. Canaccord Genuity Group started coverage on shares of BTGO in a research report on Tuesday. They issued a “buy” rating and a $15.00 target price for the company. Wall Street Zen raised BTGO to a “hold” rating in a research report on Saturday, January 31st. Finally, Rosenblatt Securities assumed coverage on shares of BTGO in a report on Tuesday. They issued a “buy” rating and a $17.00 target price for the company. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.05.

BTGO Stock Down 6.6%

NYSE:BTGO opened at $10.05 on Tuesday. BTGO has a 1-year low of $9.66 and a 1-year high of $24.50.

Insiders Place Their Bets

In related news, COO Jody Mettler sold 25,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was 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 in the company, valued at approximately $418,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward Reginelli sold 45,000 shares of BTGO stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $753,300.00. Following the sale, the chief financial officer owned 539,000 shares in the company, valued at approximately $9,022,860. The trade was a 7.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 436,007 shares of company stock valued at $7,298,757 over the last three months.

BTGO News Roundup

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

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.