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

Galaxy Digital Inc. (NASDAQ:GLXY) has received an average rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $36.3750.

Several equities research analysts recently commented on GLXY shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Galaxy Digital in a report on Saturday, September 27th. BTIG Research reissued a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Tuesday, August 5th. The Goldman Sachs Group started coverage on shares of Galaxy Digital in a report on Thursday, July 31st. They issued a “neutral” rating and a $30.00 price target for the company. Rosenblatt Securities cut their price target on shares of Galaxy Digital from $36.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Galaxy Digital from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 7th.

Galaxy Digital Stock Down 1.0%

NASDAQ:GLXY opened at $36.16 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average price is $28.45. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $37.67.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. The company had revenue of $8.66 billion during the quarter, compared to analysts’ expectations of $13.11 billion.

Insider Transactions at Galaxy Digital

In other news, Director Medina Rhonda Adams sold 33,333 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $29.83, for a total transaction of $994,323.39. Following the completion of the sale, the director owned 112,053 shares of the company’s stock, valued at $3,342,540.99. This represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Erin Elizabeth Brown sold 350,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the sale, the chief operating officer directly owned 198,088 shares of the company’s stock, valued at $5,344,414.24. The trade was a 63.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 433,333 shares of company stock valued at $11,851,323 over the last 90 days.

Institutional Investors Weigh In On Galaxy Digital

A number of large investors have recently modified their holdings of GLXY. Harbour Capital Advisors LLC purchased a new stake in shares of Galaxy Digital during the second quarter worth $349,000. AdvisorNet Financial Inc purchased a new stake in shares of Galaxy Digital during the second quarter worth $125,000. SJS Investment Consulting Inc. purchased a new stake in shares of Galaxy Digital during the second quarter worth $77,000. Accurate Wealth Management LLC purchased a new stake in shares of Galaxy Digital during the second quarter worth $440,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Galaxy Digital during the 2nd quarter valued at about $79,000.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.