BTGO (NYSE:BTGO) Shares Down 9.4% – Should You Sell?

Shares of BTGO (NYSE:BTGO) fell 9.4% on Monday . The stock traded as low as $8.05 and last traded at $8.05. 1,191,863 shares were traded during trading, an increase of 40% from the average session volume of 853,842 shares. The stock had previously closed at $8.89.

Wall Street Analyst Weigh In

BTGO has been the subject of several research reports. Wells Fargo & Company initiated coverage on BTGO in a research report on Tuesday, February 17th. They issued an “overweight” rating and a $13.00 target price for the company. Wall Street Zen lowered BTGO from a “hold” rating to a “sell” rating in a research report on Sunday. Mizuho decreased their target price on BTGO from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of BTGO in a research report on Friday, March 27th. Finally, Keefe, Bruyette & Woods upgraded BTGO to a “hold” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.14.

BTGO Trading Down 8.3%

The firm’s fifty day moving average price is $10.17.

BTGO (NYSE:BTGO) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) earnings per share (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 business’s revenue for the quarter was up 112.6% on a year-over-year basis. Research analysts predict that BTGO will post -0.24 EPS for the current 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.