Galaxy Digital Target of Unusually High Options Trading (NASDAQ:GLXY)

Galaxy Digital Inc. (NASDAQ:GLXY) was the target of unusually large options trading activity on Monday. Investors acquired 84,604 call options on the stock. This represents an increase of 243% compared to the typical daily volume of 24,634 call options.

Insider Transactions at Galaxy Digital

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 transaction of $7,192,500.00. Following the completion of the sale, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 51.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLXY. JPMorgan Chase & Co. acquired a new position in shares of Galaxy Digital in the second quarter valued at $80,000. Invesco Ltd. acquired a new stake in shares of Galaxy Digital in the second quarter valued at $53,233,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Galaxy Digital in the second quarter valued at $116,000. First Trust Advisors LP bought a new position in Galaxy Digital in the second quarter valued at about $13,376,000. Finally, Cerity Partners LLC bought a new position in Galaxy Digital during the second quarter worth about $219,000.

Galaxy Digital Stock Up 21.9%

Shares of GLXY traded up $5.51 during mid-day trading on Monday, hitting $30.65. 12,415,851 shares of the company’s stock were exchanged, compared to its average volume of 6,167,000. The stock has a market cap of $11.95 billion and a price-to-earnings ratio of -63.63. 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 firm has a fifty day moving average of $25.76 and a two-hundred day moving average of $25.01. Galaxy Digital has a twelve month low of $16.43 and a twelve month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced 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. 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 company earned ($0.86) EPS. On average, sell-side analysts forecast that Galaxy Digital will post -0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $39.00 target price on shares of Galaxy Digital in a research note on Thursday, April 23rd. Citigroup lifted their price objective on shares of Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, March 18th. Chardan Capital reiterated a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a research report on Monday, May 4th. Finally, Wall Street Zen raised Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Galaxy Digital has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

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.