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

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $45.2308.

Several equities research analysts recently issued reports on GLXY shares. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price objective on shares of Galaxy Digital in a research note on Friday, January 30th. Citigroup assumed coverage on Galaxy Digital in a report on Tuesday, December 9th. They issued an “outperform” rating on the stock. Morgan Stanley decreased their price target on shares of Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Galaxy Digital in a research report on Monday, December 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $46.00 price objective on shares of Galaxy Digital in a research note on Friday, January 30th.

Insider Buying and Selling at Galaxy Digital

In other news, Director Douglas R. Deason acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average cost of $20.80 per share, for a total transaction of $520,000.00. Following the completion of the acquisition, the director owned 59,000 shares in the company, valued at approximately $1,227,200. The trade was a 73.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Galaxy Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC bought a new stake in shares of Galaxy Digital in the 2nd quarter valued at approximately $26,000. Manchester Capital Management LLC acquired a new stake in Galaxy Digital in the second quarter valued at approximately $32,000. Centerpoint Advisors LLC bought a new stake in Galaxy Digital in the second quarter worth approximately $33,000. North Star Investment Management Corp. bought a new stake in Galaxy Digital in the third quarter worth approximately $34,000. Finally, Picton Mahoney Asset Management increased 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.

Galaxy Digital Stock Down 1.2%

Shares of NASDAQ:GLXY opened at $20.15 on Friday. The firm has a 50 day simple moving average of $26.03 and a 200 day simple moving average of $28.99. Galaxy Digital has a 52 week low of $8.20 and a 52 week high of $45.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $7.87 billion and a PE ratio of 167.92.

Galaxy Digital (NASDAQ:GLXY) last announced its earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.24) by $0.16. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $13.08 billion.

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.