Galaxy Digital (TSE:GLXY) Trading Down 12.6% – What’s Next?

Galaxy Digital Holdings Ltd. (TSE:GLXY)’s share price fell 12.6% on Tuesday . The stock traded as low as C$18.68 and last traded at C$19.05. 498,154 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 1,032,953 shares. The stock had previously closed at C$21.80.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their price target on Galaxy Digital from C$20.00 to C$24.50 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

Galaxy Digital Stock Down 10.5 %

The stock has a fifty day simple moving average of C$27.46 and a 200 day simple moving average of C$21.95. The firm has a market capitalization of C$4.59 billion, a P/E ratio of 1.61 and a beta of 3.17.

Insiders Place Their Bets

In related news, Director Bill Koutsouras sold 50,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of C$25.00, for a total value of C$1,250,000.00. 2.07% of the stock is currently owned by corporate insiders.

About Galaxy Digital

Galaxy Digital Holdings Ltd. engages in the digital asset and blockchain businesses. It operates through three segments: Global Markets, Asset Management, and Digital Infrastructure Solutions. The company provides various financial products and services to individuals and institutions, such as digital asset trading, derivatives, structured products, financing, capital markets, and merger and acquisition services, digital asset spot and derivatives trading, bespoke lending and structured products.