Mizuho Has Lowered Expectations for BTGO (NYSE:BTGO) Stock Price

BTGO (NYSE:BTGO) had its target price reduced by research analysts at Mizuho from $17.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 65.21% from the stock’s previous close.

Several other equities analysts have also recently commented on BTGO. Zacks Research raised BTGO to a “hold” rating in a report on Wednesday, February 18th. Clear Str upgraded BTGO to a “strong-buy” rating in a research report on Tuesday, February 17th. Rosenblatt Securities cut their target price on BTGO from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Craig Hallum started coverage on BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Wells Fargo & Company assumed coverage on shares of BTGO in a research note on Tuesday, February 17th. They set an “overweight” rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.32.

BTGO Stock Up 1.0%

NYSE:BTGO opened at $8.47 on Wednesday. BTGO has a one year low of $7.25 and a one year high of $24.50. The firm’s fifty day moving average is $10.65.

BTGO (NYSE:BTGO) last posted 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 Buying and Selling

In other news, insider Jeff Peter Horowitz sold 116,007 shares of the 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 $1,941,957.18. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jody Mettler sold 25,000 shares of the 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 completion of the transaction, the chief operating officer directly owned 25,000 shares of the company’s stock, valued at approximately $418,500. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 436,007 shares of company stock valued at $7,298,757.

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.