Cantor Fitzgerald analyst Brett Knoblauch reiterated an Overweight rating on BitGo Holdings (NYSE: BTGO).

The analyst commented, "BitGo (BTGO, OW) announced a $50M share repurchase program following recent weakness in the company's share price after its public market debut. The authorization provides management with flexibility to repurchase shares opportunistically and reflects confidence in the company's long-term outlook and capital position. The program comes as digital asset infrastructure companies navigate a more volatile market environment and increasing investor focus on capital allocation. The authorization signals management's willingness to return capital to shareholders while maintaining exposure to long-term growth opportunities."

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Shares of BitGo Holdings closed at $5.97 yesterday.