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

Galaxy Digital Inc. (NASDAQ:GLXY) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $39.58.

GLXY has been the subject of a number of analyst reports. Citigroup decreased their price target on Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, August 19th. Piper Sandler dropped their price objective on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. BTIG Research cut their target price on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Morgan Stanley boosted their target price on shares of Galaxy Digital from $37.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Finally, Rosenblatt Securities lowered their price target on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, August 3rd.

Galaxy Digital Stock Performance

Shares of GLXY stock opened at $24.24 on Friday. The stock has a market cap of $9.48 billion, a PE ratio of -37.29 and a beta of 5.10. The business has a 50-day simple moving average of $23.19 and a 200-day simple moving average of $25.04. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. Galaxy Digital has a 52-week low of $16.43 and a 52-week high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.27. The firm had revenue of $8.71 billion for the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.During the same quarter in the previous year, the company earned $0.08 EPS. On average, equities analysts expect that Galaxy Digital will post -0.79 EPS for the current year.

Insider Buying and Selling at Galaxy Digital

In other news, Director Steven Bandrowczak bought 5,100 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $19.63 per share, with a total value of $100,113.00. Following the purchase, the director directly owned 39,186 shares in the company, valued at $769,221.18. The trade was a 14.96% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Douglas R. Deason bought 12,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the transaction, the director directly owned 71,000 shares in the company, valued at approximately $1,529,340. This trade represents a 20.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 51.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Galaxy Digital

A number of hedge funds have recently bought and sold shares of GLXY. Northwestern Mutual Wealth Management Co. acquired a new stake in Galaxy Digital in the second quarter valued at approximately $30,000. Hollencrest Capital Management lifted its position in shares of Galaxy Digital by 204.0% during the 1st quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock valued at $48,000 after buying an additional 1,734 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Galaxy Digital during the 4th quarter valued at approximately $71,000. Harbour Investments Inc. lifted its position in shares of Galaxy Digital by 12,563.3% during the 4th quarter. Harbour Investments Inc. now owns 3,799 shares of the company’s stock valued at $85,000 after buying an additional 3,769 shares in the last quarter. Finally, Compass Financial Management LLC acquired a new stake in Galaxy Digital in the 2nd quarter valued at $120,000.

About Galaxy Digital

Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy’s business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.