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

Galaxy Digital Inc. (NASDAQ:GLXY) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $39.50.

A number of brokerages recently issued reports on GLXY. Piper Sandler lowered their price target on Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Citigroup boosted their price objective on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Galaxy Digital in a research note on Friday, May 1st. Citizens Jmp reissued a “market outperform” rating and issued a $55.00 price objective on shares of Galaxy Digital in a research note on Wednesday, April 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $39.00 price objective on shares of Galaxy Digital in a research note on Thursday, April 23rd.

Galaxy Digital Stock Down 0.4%

Shares of NASDAQ GLXY opened at $33.04 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $12.88 billion and a price-to-earnings ratio of -68.83. The stock has a 50 day moving average price of $28.07 and a 200 day moving average price of $25.42. Galaxy Digital has a 52-week low of $16.43 and a 52-week high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the firm posted ($0.86) EPS. Sell-side analysts expect that Galaxy Digital will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael D. Daffey sold 250,000 shares of the business’s 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 completion of the transaction, the director owned 1,505,419 shares of the company’s stock, valued at $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 51.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Galaxy Digital

A number of large investors have recently made changes to their positions in the business. Western Wealth Management LLC acquired a new position in shares of Galaxy Digital during the first quarter worth $126,000. Bank of America Corp DE increased its position in shares of Galaxy Digital by 124.3% during the first quarter. Bank of America Corp DE now owns 539,186 shares of the company’s stock worth $9,948,000 after purchasing an additional 298,781 shares in the last quarter. Anson Funds Management LP acquired a new position in shares of Galaxy Digital during the first quarter worth $11,070,000. Janus Henderson Group PLC increased its position in shares of Galaxy Digital by 22.1% during the first quarter. Janus Henderson Group PLC now owns 89,981 shares of the company’s stock worth $1,661,000 after purchasing an additional 16,300 shares in the last quarter. Finally, Amundi increased its position in shares of Galaxy Digital by 57.0% during the first quarter. Amundi now owns 23,399 shares of the company’s stock worth $432,000 after purchasing an additional 8,499 shares in the last quarter.

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.