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

BTGO’s (NYSE:BTGO) quiet period will end on Tuesday, March 3rd. BTGO had issued 11,821,595 shares in its IPO 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, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BTGO shares. Wedbush began coverage on shares of BTGO in a report on Tuesday, February 17th. They issued an “outperform” rating and a $15.00 price target on the stock. Zacks Research upgraded BTGO to a “hold” rating in a 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 for the company. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft began coverage on BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, BTGO presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.05.

BTGO Trading Down 10.0%

BTGO stock opened at $9.46 on Tuesday. BTGO has a fifty-two week low of $9.29 and a fifty-two week high of $24.50.

Insider Transactions at BTGO

In other BTGO news, COO Jody Mettler sold 25,000 shares of BTGO stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction of $418,500.00. Following the completion of the sale, the chief operating officer directly owned 25,000 shares in the company, valued at approximately $418,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Edward Reginelli sold 45,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $16.74, for a total transaction 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 trade represents a 7.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 436,007 shares of company stock worth $7,298,757 in the last ninety 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.