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

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

Several brokerages recently issued reports on GLXY. Citigroup increased their price objective on Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Citizens Jmp restated a “market outperform” rating and set a $55.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of Galaxy Digital in a report on Friday, May 1st.

Galaxy Digital Price Performance

Galaxy Digital stock opened at $24.59 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of -51.23 and a beta of 4.84. The firm has a 50-day moving average of $29.48 and a two-hundred day moving average of $25.61. Galaxy Digital has a 1 year low of $16.43 and a 1 year high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. The business had revenue of $10.21 billion for the quarter. During the same period last year, the business posted ($0.86) earnings per share. On average, research analysts forecast that Galaxy Digital will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael D. Daffey sold 250,000 shares of the business’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 completion of the sale, the director owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 51.53% of the company’s stock.

Hedge Funds Weigh In On Galaxy Digital

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its position in Galaxy Digital by 183.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock valued at $32,000 after acquiring an additional 928 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of Galaxy Digital by 200.0% during the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Galaxy Digital during the 4th quarter worth $36,000. Northwestern Mutual Wealth Management Co. bought a new stake in Galaxy Digital during the fourth quarter valued at about $46,000. Finally, Hollencrest Capital Management boosted its position in Galaxy Digital by 204.0% during the first quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock valued at $48,000 after purchasing an additional 1,734 shares in 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.