Galaxy Digital (NASDAQ:GLXY) Given “Buy” Rating at Rosenblatt Securities

Galaxy Digital (NASDAQ:GLXY)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a report issued on Friday,Benzinga reports. They presently have a $46.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 53.54% from the stock’s current price.

GLXY has been the subject of several other research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $27.00 price objective on shares of Galaxy Digital in a report on Tuesday, January 20th. Canaccord Genuity Group reiterated a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a research report on Friday. BTIG Research raised their price target on Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Citizens Jmp started coverage on Galaxy Digital in a research note on Tuesday, December 9th. They issued a “market outperform” rating and a $60.00 price objective on the stock. Finally, Benchmark upped their price objective on Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Two investment 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. Based on data from MarketBeat, Galaxy Digital has a consensus rating of “Buy” and an average target price of $46.27.

Galaxy Digital Price Performance

GLXY stock opened at $29.96 on Friday. 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 company’s fifty day moving average price is $26.86 and its 200-day moving average price is $29.36. Galaxy Digital has a one year low of $8.20 and a one year high of $45.92. The company has a market capitalization of $11.70 billion and a PE ratio of 24.97.

Insider Buying and Selling

In other news, Director Douglas R. Deason acquired 10,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $29.59 per share, for a total transaction of $295,900.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $295,900. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC purchased a new stake in shares of Galaxy Digital in the 2nd quarter worth approximately $26,000. Manchester Capital Management LLC bought a new position in Galaxy Digital in the second quarter worth approximately $32,000. Centerpoint Advisors LLC purchased a new stake in Galaxy Digital during the second quarter worth $33,000. DHJJ Financial Advisors Ltd. bought a new stake in Galaxy Digital during the 2nd quarter valued at $34,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Galaxy Digital in the 3rd quarter valued at $34,000.

About Galaxy Digital

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.