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

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $39.50.

A number of analysts recently weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $55.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $37.00 price objective on shares of Galaxy Digital in a report on Wednesday, April 29th. Weiss Ratings lowered Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. BTIG Research reissued a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a report on Thursday, May 21st. Finally, Chardan Capital restated a “buy” rating and set a $35.00 target price on shares of Galaxy Digital in a research report on Monday, May 4th.

Galaxy Digital Price Performance

GLXY opened at $24.88 on Monday. Galaxy Digital has a fifty-two week low of $16.43 and a fifty-two week high of $45.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.70 and a quick ratio of 1.70. The firm’s fifty day moving average price is $29.40 and its two-hundred day moving average price is $25.65. The company has a market capitalization of $9.70 billion, a P/E ratio of -51.83 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. The company had revenue of $10.21 billion during the quarter. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. During the same quarter in the prior year, the company posted ($0.86) EPS. On average, analysts anticipate that Galaxy Digital will post -0.32 EPS for the current year.

Insider Buying and Selling

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the transaction, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 51.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Galaxy Digital

A number of institutional investors and hedge funds have recently made changes to their positions in GLXY. Caitong International Asset Management Co. Ltd increased its position in Galaxy Digital by 183.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after purchasing an additional 928 shares during the period. Picton Mahoney Asset Management lifted its position in Galaxy Digital by 200.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the period. Danske Bank A S bought a new position in shares of Galaxy Digital in the 4th quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Galaxy Digital in the 4th quarter valued at about $46,000. Finally, Hollencrest Capital Management grew its position in shares of Galaxy Digital by 204.0% during the 1st quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock worth $48,000 after buying an additional 1,734 shares during the period.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) is a diversified financial services and investment management firm dedicated to the digital assets and blockchain technology sectors. Established in 2018 by Mike Novogratz, the company operates across trading, asset management, principal investing and advisory services. Galaxy Digital caters to institutional clients, high-net-worth investors and corporations seeking exposure to cryptocurrencies, decentralized finance (DeFi) protocols and other blockchain-based assets.

In its trading division, Galaxy Digital provides market-making, execution and over-the-counter (OTC) solutions for a wide range of digital tokens.