BTGO (NYSE:BTGO) Coverage Initiated at Citigroup

Stock analysts at Citigroup assumed coverage on shares of BTGO (NYSE:BTGO) in a report released on Tuesday. The firm set a “buy” rating and a $18.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 68.70% from the stock’s previous close.

BTGO has been the topic of a number of other reports. Craig Hallum began coverage on shares of BTGO in a research report on Tuesday. They issued a “buy” rating and a $18.00 price target on the stock. Wall Street Zen upgraded BTGO to a “hold” rating in a research report on Saturday, January 31st. The Goldman Sachs Group initiated coverage on BTGO in a research note on Tuesday. They issued a “neutral” rating and a $11.50 target price for the company. Cantor Fitzgerald initiated coverage on shares of BTGO in a research report on Tuesday. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Mizuho assumed coverage on shares of BTGO in a research report on Tuesday. They issued an “outperform” rating and a $17.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.35.

BTGO Stock Performance

BTGO stock opened at $10.67 on Tuesday. BTGO has a 52-week low of $9.66 and a 52-week high of $24.50.

Insider Transactions at BTGO

In related news, CRO Chen Fang sold 250,000 shares of the business’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 transaction of $4,185,000.00. Following the completion of the sale, the executive directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Edward Reginelli sold 45,000 shares of the 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 completion of the transaction, the chief financial officer owned 539,000 shares in the company, valued at $9,022,860. This represents a 7.71% decrease in their ownership of the stock. 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 in the last three months.

Key BTGO News

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.