Galaxy Digital (NASDAQ:GLXY - Get Free Report) had its price objective lifted by equities researchers at Canaccord Genuity Group from $34.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 16.66% from the stock's previous close.
A number of other research analysts have also commented on the company. BTIG Research upped their price target on Galaxy Digital from $35.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday. Rosenblatt Securities upped their target price on Galaxy Digital from $35.00 to $44.00 and gave the company a "buy" rating in a research note on Monday. Maxim Group initiated coverage on Galaxy Digital in a research note on Thursday, July 31st. They issued a "buy" rating and a $40.00 target price for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Galaxy Digital in a research note on Wednesday, October 8th. Finally, Piper Sandler upped their target price on Galaxy Digital from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $42.50.
Read Our Latest Analysis on Galaxy Digital
Galaxy Digital Trading Up 8.1%
Shares of GLXY stock opened at $42.86 on Wednesday. Galaxy Digital has a 12 month low of $8.20 and a 12 month high of $45.92. The stock's 50 day simple moving average is $31.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14. The business had revenue of $8.66 billion for the quarter, compared to analyst estimates of $13.11 billion.
Insider Transactions at Galaxy Digital
In other Galaxy Digital news, Director Richard Tavoso sold 50,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $28.28, for a total value of $1,414,000.00. Following the sale, the director directly owned 400,000 shares in the company, valued at $11,312,000. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $994,323.39. Following the completion of the sale, the director owned 112,053 shares in the company, valued at $3,342,540.99. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,183,333 shares of company stock valued at $146,851,323.
Institutional Trading of Galaxy Digital
Large investors have recently bought and sold shares of the stock. CWM LLC bought a new stake in shares of Galaxy Digital during the second quarter worth $26,000. Manchester Capital Management LLC bought a new stake in shares of Galaxy Digital during the second quarter worth $32,000. Centerpoint Advisors LLC bought a new position in Galaxy Digital in the second quarter valued at about $33,000. DHJJ Financial Advisors Ltd. bought a new position in Galaxy Digital in the second quarter valued at about $34,000. Finally, TD Waterhouse Canada Inc. bought a new position in Galaxy Digital in the second quarter valued at about $37,000.
About Galaxy Digital
(
Get Free Report)
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.
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