Galaxy Digital Inc. (NASDAQ:GLXY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $39.5833.

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Galaxy Digital in a research report on Friday, August 21st. Piper Sandler dropped their target price on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Zacks Research raised shares of Galaxy Digital from a “strong sell” rating to a “hold” rating in a research report on Friday, September 18th. Morgan Stanley raised their price target on shares of Galaxy Digital from $37.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Finally, BTIG Research lowered their price target on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th.

Galaxy Digital Stock Performance

GLXY stock opened at $25.79 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. The firm has a market cap of $10.08 billion, a PE ratio of -39.68 and a beta of 5.10. The business has a 50 day moving average of $23.08 and a 200-day moving average of $25.01. Galaxy Digital has a 12-month low of $16.43 and a 12-month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.27. The business had revenue of $8.71 billion for the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.During the same quarter last year, the business posted $0.08 earnings per share. As a group, sell-side analysts expect that Galaxy Digital will post -0.79 earnings per share for the current year.

Insider Buying and Selling at Galaxy Digital

In other news, Director Douglas R. Deason purchased 12,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $21.54 per share, with a total value of $258,480.00. Following the completion of the acquisition, the director owned 71,000 shares in the company, valued at $1,529,340. This represents a 20.34% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven Bandrowczak acquired 5,100 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $19.63 per share, with a total value of $100,113.00. Following the completion of the transaction, the director directly owned 39,186 shares of the company’s stock, valued at $769,221.18. This trade represents a 14.96% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 51.53% of the company’s stock.

Institutional Trading of Galaxy Digital

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital Research Global Investors purchased a new position in shares of Galaxy Digital during the 4th quarter valued at $406,102,000. State Street Corp raised its position in shares of Galaxy Digital by 99.7% in the second quarter. State Street Corp now owns 3,833,993 shares of the company’s stock worth $104,821,000 after buying an additional 1,913,688 shares in the last quarter. Moore Capital Management LP boosted its stake in Galaxy Digital by 52.9% during the second quarter. Moore Capital Management LP now owns 2,082,250 shares of the company’s stock valued at $56,929,000 after buying an additional 720,000 shares during the period. Norges Bank bought a new stake in Galaxy Digital during the fourth quarter valued at $32,045,000. Finally, Bank of America Corp DE grew its position in Galaxy Digital by 112.4% during the second quarter. Bank of America Corp DE now owns 1,145,172 shares of the company’s stock worth $31,309,000 after buying an additional 605,986 shares in the last quarter.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy’s business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.