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

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $39.50.

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Canaccord Genuity Group restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research note on Friday, April 24th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Galaxy Digital in a research note on Friday, May 1st. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research note on Thursday, May 21st. Finally, Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd.

Insider Activity at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the transaction, the director owned 1,505,419 shares in the company, valued at $43,310,904.63. This represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 51.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in shares of Galaxy Digital by 183.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after purchasing an additional 928 shares during the last quarter. Picton Mahoney Asset Management increased its stake in shares of Galaxy Digital by 200.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Danske Bank A S acquired a new position in shares of Galaxy Digital during the 4th quarter worth $36,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Galaxy Digital during the 4th quarter worth $46,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Galaxy Digital during the 4th quarter worth $49,000.

Galaxy Digital Stock Down 7.7%

GLXY stock opened at $30.15 on Thursday. Galaxy Digital has a 12-month low of $16.43 and a 12-month high of $45.92. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94. The company has a market cap of $11.76 billion and a price-to-earnings ratio of -62.81. The company has a 50 day moving average of $26.53 and a two-hundred day moving average of $25.13.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. The company had revenue of $10.21 billion during the quarter. During the same quarter in the previous year, the company earned ($0.86) EPS. On average, equities analysts anticipate that Galaxy Digital will post -0.32 earnings per share for the current fiscal year.

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.