Stock Repurchase Program Initiated by BTGO (NYSE:BTGO) Board of Directors

BTGO (NYSE:BTGO) announced that its Board of Directors has approved a share buyback plan on Wednesday, June 17th, RTT News reports. The company plans to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen cut shares of BTGO from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of BTGO in a report on Friday, March 27th. Craig Hallum started coverage on shares of BTGO in a report on Tuesday, February 17th. They set a “buy” rating and a $18.00 target price for the company. Citigroup reduced their price objective on shares of BTGO from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Finally, Keefe, Bruyette & Woods raised shares of BTGO to a “hold” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.14.

BTGO Price Performance

Shares of NYSE BTGO traded up $0.49 during midday trading on Wednesday, reaching $5.93. The stock had a trading volume of 3,412,889 shares, compared to its average volume of 2,223,651. The business’s 50-day simple moving average is $8.51. BTGO has a 12-month low of $4.66 and a 12-month high of $24.50.

BTGO (NYSE:BTGO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). The firm had revenue of $3.77 billion for the quarter. BTGO’s revenue was up 112.6% compared to the same quarter last year. On average, research analysts expect that BTGO will post -0.28 EPS for the current year.

BTGO News Roundup

Here are the key news stories impacting BTGO this week:

• Positive Sentiment: BitGo approved a $50 million stock buyback, a shareholder-friendly move that can reduce share count and signal confidence in the company’s valuation. Article Title
• Positive Sentiment: BitGo Singapore partnered with dtcpay to expand secure, compliant digital-asset payment infrastructure across global markets, which supports the company’s growth narrative. Article Title
• Neutral Sentiment: Several law firms issued reminders and deadline notices related to an existing securities class-action lawsuit against BitGo, keeping legal scrutiny in the headlines but not changing the case itself. Article Title
• Negative Sentiment: The ongoing securities fraud lawsuit remains an overhang for BTGO, as investors weigh potential legal costs and reputational risk. Article Title

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.