Rosenblatt Securities Reiterates “Buy” Rating for Galaxy Digital (NASDAQ:GLXY)

Galaxy Digital (NASDAQ:GLXY)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They presently have a $46.00 target price on the stock. Rosenblatt Securities’ price target suggests a potential upside of 53.54% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Citizens Jmp initiated coverage on Galaxy Digital in a research note on Tuesday, December 9th. They issued a “market outperform” rating and a $60.00 price target on the stock. Morgan Stanley began coverage on Galaxy Digital in a research report on Thursday, November 6th. They issued an “overweight” rating and a $42.00 target price on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $27.00 price target on shares of Galaxy Digital in a research note on Tuesday, January 20th. BTIG Research increased their price objective on shares of Galaxy Digital from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $46.27.

Galaxy Digital Trading Down 6.1%

Shares of GLXY stock opened at $29.96 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Galaxy Digital has a 12-month low of $8.20 and a 12-month high of $45.92. The stock has a market capitalization of $11.70 billion and a P/E ratio of 24.97. The firm’s 50 day moving average is $26.86 and its 200 day moving average is $29.36.

Insider Buying and Selling

In other news, Director Douglas R. Deason bought 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were bought at an average price of $29.59 per share, for a total transaction of $295,900.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately $295,900. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Galaxy Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC lifted its stake in shares of Galaxy Digital by 20.8% during the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after buying an additional 244 shares in the last quarter. Victory Capital Management Inc. increased its stake in Galaxy Digital by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock worth $663,000 after buying an additional 411 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in Galaxy Digital by 6.8% during the third quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company’s stock valued at $461,000 after acquiring an additional 867 shares during the period. Raymond James Financial Inc. lifted its position in shares of Galaxy Digital by 6.7% in the third quarter. Raymond James Financial Inc. now owns 13,768 shares of the company’s stock valued at $465,000 after acquiring an additional 868 shares in the last quarter. Finally, ORG Partners LLC lifted its position in shares of Galaxy Digital by 1,110.0% in the third quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after acquiring an additional 888 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.