BTGO (NYSE:BTGO) Sees Strong Trading Volume – Here’s Why

BTGO (NYSE:BTGO) shares saw unusually-high trading volume on Wednesday . Approximately 794,321 shares traded hands during trading, a decline of 18% from the previous session’s volume of 971,019 shares.The stock last traded at $5.58 and had previously closed at $5.97.

Analyst Ratings Changes

BTGO has been the topic of a number of recent research reports. Rosenblatt Securities cut their price target on BTGO from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $17.00 price target on the stock. Citigroup cut their price target on BTGO from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Craig Hallum initiated coverage on BTGO in a research note on Tuesday, February 17th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised 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 given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.14.

BTGO Stock Up 2.7%

The company has a 50 day moving average of $9.66.

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

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.