BTGO (NYSE:BTGO) Shares Up 8.6% – Here’s What Happened

BTGO (NYSE:BTGO)’s share price rose 8.6% during mid-day trading on Wednesday . The stock traded as high as $10.97 and last traded at $10.97. Approximately 140,156 shares changed hands during trading, a decline of 89% from the average daily volume of 1,224,111 shares. The stock had previously closed at $10.10.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BTGO shares. Zacks Research upgraded BTGO to a “hold” rating in a research note on Wednesday, February 18th. Craig Hallum initiated coverage on BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $18.00 price objective for the company. Rosenblatt Securities initiated coverage on BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 target price on the stock. Mizuho began coverage on BTGO in a research note on Tuesday, February 17th. They set an “outperform” rating and a $17.00 target price for the company. Finally, Keefe, Bruyette & Woods upgraded shares of BTGO to a “hold” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.05.

BTGO Trading Down 0.7%

Insider Transactions at BTGO

In related news, insider Jeff Peter Horowitz sold 116,007 shares of the company’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 sale, the insider directly owned 311,118 shares of the company’s stock, valued at approximately $5,208,115.32. This represents a 27.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Chen Fang sold 250,000 shares of the firm’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 $4,185,000.00. Following the transaction, the executive owned 1,233,491 shares in the company, valued at $20,648,639.34. This trade represents a 16.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 436,007 shares of company stock valued at $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.