Galaxy Digital Inc. (NASDAQ:GLXY – Get Free Report)’s stock price traded down 11.1% during trading on Tuesday . The company traded as low as $20.43 and last traded at $20.1720. 831,092 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 6,375,773 shares. The stock had previously closed at $22.70.
Analyst Upgrades and Downgrades
GLXY has been the subject of several analyst reports. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research report on Thursday, May 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Galaxy Digital in a report on Friday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $37.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Piper Sandler dropped their target price on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Finally, Chardan Capital restated a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.62.
View Our Latest Report on GLXY
Galaxy Digital Stock Performance
Galaxy Digital (NASDAQ:GLXY – Get Free Report) last posted its earnings results 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 for 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 last year, the company posted ($0.86) EPS. On average, equities research analysts expect that Galaxy Digital Inc. will post -0.5 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 51.53% of the company’s stock.
Institutional Investors Weigh In On Galaxy Digital
Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after purchasing an additional 411 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Galaxy Digital by 6.9% during the first quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after purchasing an additional 655 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 purchasing an additional 666 shares in the last quarter. Main Management ETF Advisors LLC boosted its position in shares of 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 buying an additional 728 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Galaxy Digital by 2.3% during the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock valued at $737,000 after buying an additional 742 shares during the last quarter.
About Galaxy Digital
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.
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