BTGO’s Quiet Period To End on March 3rd (NYSE:BTGO)

BTGO’s (NYSE:BTGO) quiet period is set to end on Tuesday, March 3rd. BTGO had issued 11,821,595 shares in its public offering on January 22nd. The total size of the offering was $212,788,710 based on an initial share price of $18.00. During BTGO’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BTGO. Rosenblatt Securities started coverage on BTGO in a report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective for the company. Zacks Research upgraded BTGO to a “hold” rating in a research report on Wednesday, February 18th. Citigroup started coverage on BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $18.00 price objective on the stock. Craig Hallum initiated coverage on shares of BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of BTGO in a report on Tuesday, February 17th. They set a “buy” rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, BTGO presently has a consensus rating of “Moderate Buy” and an average price target of $16.05.

BTGO Stock Performance

Shares of BTGO opened at $9.46 on Tuesday. BTGO has a 12 month low of $9.29 and a 12 month high of $24.50.

Insider Activity at BTGO

In other news, COO Jody Mettler sold 25,000 shares of the firm’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 value of $418,500.00. Following the transaction, the chief operating officer owned 25,000 shares in the company, valued at $418,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward Reginelli sold 45,000 shares of BTGO stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $16.74, for a total value of $753,300.00. Following the completion of the sale, the chief financial officer directly 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 sold a total of 436,007 shares of company stock worth $7,298,757 over the last 90 days.

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.