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

BTGO’s (NYSE:BTGO) quiet period will expire on Tuesday, March 3rd. BTGO had issued 11,821,595 shares in its initial 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 the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end 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 research analysts recently commented on BTGO shares. Rosenblatt Securities assumed coverage on shares of BTGO in a research report on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Compass Point initiated coverage on BTGO in a research note on Tuesday, February 17th. They issued a “buy” rating and a $17.00 price target on the stock. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Zacks Research upgraded BTGO to a “hold” rating in a report on Wednesday, February 18th. Finally, Mizuho started coverage on BTGO in a research report on Tuesday, February 17th. They issued an “outperform” rating and a $17.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.05.

BTGO Stock Down 6.9%

BTGO stock opened at $9.78 on Friday. BTGO has a one year low of $9.29 and a one year high of $24.50.

Insider Buying and Selling

In other BTGO news, insider Jeff Peter Horowitz sold 116,007 shares of the business’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 transaction of $1,941,957.18. Following the transaction, the insider owned 311,118 shares of the company’s stock, valued at $5,208,115.32. The trade was a 27.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward Reginelli sold 45,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were 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 of the company’s stock, valued at approximately $9,022,860. The trade was a 7.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 436,007 shares of company stock valued at $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.