Galaxy Digital (NASDAQ:GLXY) Research Coverage Started at Citizens Jmp

Citizens Jmp initiated coverage on shares of Galaxy Digital (NASDAQ:GLXY) in a report released on Tuesday morning, MarketBeat.com reports. The firm issued a market outperform rating and a $60.00 price target on the stock.

Several other research firms have also weighed in on GLXY. Benchmark boosted their price target on Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. JMP Securities set a $60.00 target price on shares of Galaxy Digital in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Galaxy Digital in a report on Monday, December 1st. Rosenblatt Securities increased their price target on shares of Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $46.00.

Galaxy Digital Price Performance

NASDAQ:GLXY opened at $29.86 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.35. The stock’s 50-day simple moving average is $32.53 and its 200 day simple moving average is $27.66. The company has a market cap of $11.66 billion and a P/E ratio of 24.88. Galaxy Digital has a 52-week low of $8.20 and a 52-week high of $45.92.

Insider Activity

In related news, Director Douglas R. Deason bought 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $29.59 per share, for a total transaction of $295,900.00. Following the purchase, the director owned 10,000 shares in the company, valued at $295,900. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Novogratz sold 3,000,000 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $36.00, for a total transaction of $108,000,000.00. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On Galaxy Digital

A number of large investors have recently made changes to their positions in GLXY. CWM LLC boosted its stake in Galaxy Digital by 20.8% in the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after purchasing an additional 244 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Galaxy Digital by 2.1% during the third quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock worth $663,000 after buying an additional 411 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of Galaxy Digital by 6.8% in the third quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company’s stock valued at $461,000 after acquiring an additional 867 shares during the period. Raymond James Financial Inc. boosted its position in shares of Galaxy Digital by 6.7% in the third quarter. Raymond James Financial Inc. now owns 13,768 shares of the company’s stock valued at $465,000 after acquiring an additional 868 shares during the period. Finally, ORG Partners LLC grew its stake in shares of Galaxy Digital by 1,110.0% in the third quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after acquiring an additional 888 shares in the last quarter.

About Galaxy Digital

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.