BTGO (NYSE:BTGO) Shares Gap Up – Time to Buy?

BTGO (NYSE:BTGO) gapped up before the market opened on Monday . The stock had previously closed at $7.67, but opened at $8.01. BTGO shares last traded at $7.4190, with a volume of 237,501 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BTGO. Deutsche Bank Aktiengesellschaft assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective for the company. Zacks Research raised shares of BTGO to a “hold” rating in a report on Wednesday, February 18th. Keefe, Bruyette & Woods raised BTGO to a “hold” rating in a report on Tuesday, February 17th. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 price objective on shares of BTGO in a research report on Friday. Finally, Cantor Fitzgerald dropped their price objective on BTGO from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday. 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 stock. Based on data from MarketBeat, BTGO has an average rating of “Moderate Buy” and an average price target of $15.59.

BTGO Stock Performance

The firm has a 50-day simple moving average of $10.86.

BTGO (NYSE:BTGO) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($1.03) earnings per share (EPS) for the quarter. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.11 billion.

Insider Transactions at BTGO

In other news, CFO Edward Reginelli sold 45,000 shares of BTGO stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $16.74, for a total value of $753,300.00. Following the sale, the chief financial officer directly owned 539,000 shares of the company’s stock, valued at approximately $9,022,860. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jody Mettler sold 25,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $16.74, for a total value of $418,500.00. Following the completion of the sale, the chief operating officer owned 25,000 shares in the company, valued at $418,500. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 436,007 shares of company stock worth $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.