Shares of Galaxy Digital Inc. (NASDAQ:GLXY – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $39.5833.
GLXY has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Rosenblatt Securities reiterated a “buy” rating and set a $39.00 price target on shares of Galaxy Digital in a report on Thursday, April 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research note on Friday, April 24th. Chardan Capital restated a “buy” rating and issued a $35.00 price objective on shares of Galaxy Digital in a report on Monday, May 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th.
Check Out Our Latest Stock Report on Galaxy Digital
Insider Activity at Galaxy Digital
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in GLXY. Vanguard Group Inc. lifted its position in shares of Galaxy Digital by 27.5% during the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after purchasing an additional 4,463,782 shares during the last quarter. Capital Research Global Investors acquired a new position in Galaxy Digital during the 4th quarter valued at approximately $406,102,000. Invesco Ltd. boosted its holdings in shares of Galaxy Digital by 31.1% during the fourth quarter. Invesco Ltd. now owns 3,082,187 shares of the company’s stock valued at $68,918,000 after acquiring an additional 731,215 shares during the period. Geode Capital Management LLC grew its position in Galaxy Digital by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock worth $54,424,000 after purchasing an additional 279,818 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in Galaxy Digital in the 2nd quarter worth approximately $48,452,000.
Galaxy Digital Stock Up 17.9%
GLXY stock opened at $21.52 on Friday. 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 stock has a market capitalization of $8.39 billion, a PE ratio of -44.83 and a beta of 4.84. Galaxy Digital has a one year low of $16.43 and a one year high of $45.92. The company has a fifty day moving average of $27.47 and a 200-day moving average of $25.51.
Galaxy Digital (NASDAQ:GLXY – Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The company had revenue of $10.21 billion for the quarter. During the same quarter in the previous year, the firm posted ($0.86) EPS. As a group, analysts expect that Galaxy Digital will post -0.5 EPS for the current 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.
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