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

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.7692.

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price objective on shares of Galaxy Digital in a research report on Friday, January 30th. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Galaxy Digital in a research note on Wednesday, February 4th. Cantor Fitzgerald lowered their price target on Galaxy Digital from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Weiss Ratings cut Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen downgraded Galaxy Digital from a “hold” rating to a “sell” rating in a report on Saturday, February 28th.

Galaxy Digital Stock Down 5.9%

NASDAQ:GLXY opened at $17.37 on Friday. Galaxy Digital has a twelve month low of $8.20 and a twelve month high of $45.92. The company has a market cap of $6.76 billion and a price-to-earnings ratio of 144.75. The stock has a fifty day simple moving average of $22.49 and a 200-day simple moving average of $27.78. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.80.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.16. The company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $13.08 billion.

Insider Activity

In other news, Director Douglas R. Deason purchased 25,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were purchased at an average price of $20.80 per share, for a total transaction of $520,000.00. Following the completion of the purchase, the director owned 59,000 shares in the company, valued at approximately $1,227,200. This represents a 73.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Galaxy Digital

Several institutional investors have recently bought and sold shares of GLXY. PNC Financial Services Group Inc. purchased a new position in shares of Galaxy Digital in the 2nd quarter valued at $53,000. Cetera Investment Advisers purchased a new stake in shares of Galaxy Digital during the 2nd quarter worth $2,817,000. JPMorgan Chase & Co. bought a new stake in Galaxy Digital during the second quarter valued at about $80,000. MAI Capital Management bought a new stake in Galaxy Digital during the second quarter valued at about $88,000. Finally, Scotia Capital Inc. purchased a new position in Galaxy Digital in the second quarter valued at about $446,000.

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.