Galaxy Digital Inc. (NASDAQ:GLXY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Galaxy Digital Inc. (NASDAQ:GLXY) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $39.50.

A number of equities research analysts have recently weighed in on GLXY shares. Piper Sandler dropped their target price on Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Citizens Jmp restated a “market outperform” rating and set a $55.00 target price on shares of Galaxy Digital in a research report on Wednesday, April 29th. 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. Rosenblatt Securities restated a “buy” rating and set a $39.00 target price on shares of Galaxy Digital in a research report on Thursday, April 23rd. Finally, Weiss Ratings downgraded Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th.

Galaxy Digital Trading Up 6.5%

Shares of GLXY opened at $29.57 on Friday. The stock has a fifty day moving average price of $24.16 and a two-hundred day moving average price of $25.10. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. Galaxy Digital has a 52-week low of $16.43 and a 52-week high of $45.92. The company has a market cap of $11.53 billion and a price-to-earnings ratio of -61.60.

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

Insider Buying and Selling at Galaxy Digital

In other 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 transaction of $7,192,500.00. Following the completion of the sale, the director owned 1,505,419 shares in the company, valued at $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 51.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Galaxy Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings 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 valued at $32,000 after purchasing an additional 928 shares during the last quarter. Picton Mahoney Asset Management increased its holdings in Galaxy Digital by 200.0% in the fourth 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 last quarter. Danske Bank A S bought a new stake in Galaxy Digital in the fourth quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. bought a new stake in Galaxy Digital in the fourth quarter valued at about $46,000. Finally, CWM LLC increased its holdings in Galaxy Digital by 20.8% in the third 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 last quarter.

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.