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

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $39.50.

A number of research analysts have issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. Rosenblatt Securities reissued a “buy” rating and issued a $39.00 target price on shares of Galaxy Digital in a research report on Thursday, April 23rd. Citizens Jmp restated a “market outperform” rating and issued a $55.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research report on Thursday, May 21st. Finally, Chardan Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Galaxy Digital in a report on Monday, May 4th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Galaxy Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in shares of Galaxy Digital by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after buying an additional 411 shares during the period. Private Advisor Group LLC grew its holdings in Galaxy Digital by 6.9% during the first quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock worth $186,000 after acquiring an additional 655 shares during the period. Dimensional Fund Advisors LP raised its position in Galaxy Digital by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock valued at $1,182,000 after acquiring an additional 666 shares in the last quarter. Main Management ETF Advisors LLC raised its position in Galaxy Digital by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock valued at $1,593,000 after acquiring an additional 728 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Galaxy Digital by 2.3% in the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock valued at $737,000 after acquiring an additional 742 shares during the period.

Galaxy Digital Price Performance

Shares of GLXY opened at $24.59 on Monday. The company has a 50 day moving average of $29.48 and a two-hundred day moving average of $25.61. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94. Galaxy Digital has a twelve month low of $16.43 and a twelve month high of $45.92. The company has a market cap of $9.59 billion, a price-to-earnings ratio of -51.23 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. The firm had revenue of $10.21 billion during the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period in the previous year, the business earned ($0.86) EPS. As a group, analysts predict 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.