Galaxy Digital Inc. (GLXY) – What Are Researchers Saying About This Stock?

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.29.

Several brokerages have weighed in on GLXY. Citigroup raised Galaxy Digital from a “neutral” rating to a “buy” rating and raised their price target for the stock from $26.00 to $28.00 in a report on Tuesday, October 13th. Zacks Research upgraded shares of Galaxy Digital from a “strong sell” rating to a “hold” rating in a report on Friday, September 18th. Morgan Stanley decreased their price objective on shares of Galaxy Digital from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. BTIG Research decreased their price objective on shares of Galaxy Digital from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Finally, Rosenblatt Securities lowered their target price on shares of Galaxy Digital from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 26th.

Galaxy Digital Stock Performance

Shares of Galaxy Digital stock opened at $13.66 on Friday. Galaxy Digital has a one year low of $11.78 and a one year high of $36.10. The company has a 50-day simple moving average of $20.86 and a two-hundred day simple moving average of $23.81. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $5.34 billion, a PE ratio of -13.66 and a beta of 5.38.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.54. Galaxy Digital had a negative return on equity of 10.30% and a negative net margin of 0.89%. The business had revenue of $8.69 billion for the quarter. Research analysts expect that Galaxy Digital will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Galaxy Digital

In other Galaxy Digital news, Director Medina Adams sold 12,000 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $16.45, for a total value of $197,400.00. Following the completion of the transaction, the director owned 107,919 shares of the company’s stock, valued at approximately $1,775,267.55. This trade represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew Friedrich sold 4,993 shares of Galaxy Digital stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $27.03, for a total transaction of $134,960.79. Following the sale, the insider owned 275,782 shares of the company’s stock, valued at $7,454,387.46. The trade was a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired a total of 777,100 shares of company stock worth $10,223,393 in the last three months. 51.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Galaxy Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLXY. New York Life Investment Management LLC purchased a new stake in Galaxy Digital during the 3rd quarter valued at about $656,000. Fulcrum Asset Management LLP purchased a new position in shares of Galaxy Digital in the third quarter worth about $1,803,000. Commonwealth Equity Services LLC raised its stake in shares of Galaxy Digital by 2.5% in the third quarter. Commonwealth Equity Services LLC now owns 31,541 shares of the company’s stock worth $717,000 after purchasing an additional 767 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Galaxy Digital during the third quarter worth about $37,000. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Galaxy Digital by 8.5% during the third quarter. Apollon Wealth Management LLC now owns 55,164 shares of the company’s stock worth $1,254,000 after purchasing an additional 4,330 shares during the period.

Galaxy Digital Company Profile

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Its businesses include trading and other financial services for institutions, investment and asset management, and digital infrastructure, including data center and bitcoin mining operations.

Founded in 2018 by Michael Novogratz, the company serves institutional clients and investors in the United States and other markets. Novogratz is Galaxy’s founder and chief executive officer.

Galaxy has expanded its operations over time from digital asset investing and financial services into infrastructure supporting blockchain and high-performance computing.