Buckingham Research Begins Coverage on Bitcoin Investment Trust (GBTC)

Stock analysts at Buckingham Research started coverage on shares of Bitcoin Investment Trust (OTCMKTS:GBTC) in a research report issued on Friday, February 9th, MarketBeat.com reports. The brokerage set an “underperform” rating and a $8.35 price target on the stock. Buckingham Research’s price target suggests a potential downside of 52.98% from the company’s previous close.

Separately, Standpoint Research raised their price target on Bitcoin Investment Trust from $120.88 to $153.85 and gave the company a “buy” rating in a report on Monday, November 20th.

Bitcoin Investment Trust (GBTC) opened at $17.76 on Friday. Bitcoin Investment Trust has a 12 month low of $1.14 and a 12 month high of $38.71.

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Bitcoin Investment Trust Company Profile

Bitcoin Investment Trust holds bitcoins and, from time to time, issues creation baskets in exchange for deposits of bitcoins and distributes bitcoins in connection with redemption baskets. The activities of the Trust includes issuing Baskets in exchange for bitcoins deposited by the authorized participants or liquidity providers, as applicable, with the custodian as consideration and transferring actual bitcoins as necessary to cover the combined fee and selling bitcoins as necessary to pay extraordinary fees.

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