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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Galaxy Digital, with 10 buy, 2 hold, and 2 sell ratings. The average 12-month price target is $39.58, well above the reported $24.69 share price.
• Recent analyst opinions were mixed: Zacks Research downgraded the stock to “strong sell,” while Rosenblatt and BTIG retained buy ratings with reduced targets; Morgan Stanley raised its target to $48 and reiterated an “overweight” rating.
• Insider and institutional activity has been supportive. Two directors purchased a combined 17,100 shares, insiders own 51.53% of the company, and several major investors—including Capital Research Global Investors and Norges Bank—established or increased positions.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) has received an average rating of "Moderate Buy" from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $39.5833.

A number of research firms have recently weighed in on GLXY. Zacks Research cut Galaxy Digital from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Rosenblatt Securities lowered their target price on Galaxy Digital from $39.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. BTIG Research cut their target price on Galaxy Digital from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Galaxy Digital in a research report on Friday, August 21st. Finally, Morgan Stanley increased their price target on Galaxy Digital from $37.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd.

Insider Activity

In related news, Director Steven Bandrowczak bought 5,100 shares of the business's stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $19.63 per share, with a total value of $100,113.00. Following the completion of the transaction, the director directly owned 39,186 shares of the company's stock, valued at approximately $769,221.18. This trade represents a 14.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas R. Deason bought 12,000 shares of Galaxy Digital stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $21.54 per share, with a total value of $258,480.00. Following the completion of the acquisition, the director owned 71,000 shares of the company's stock, valued at $1,529,340. The trade was a 20.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 51.53% of the company's stock.

Institutional Trading of Galaxy Digital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors purchased a new position in shares of Galaxy Digital in the fourth quarter worth approximately $406,102,000. Moore Capital Management LP lifted its position in shares of Galaxy Digital by 52.9% in the 2nd quarter. Moore Capital Management LP now owns 2,082,250 shares of the company's stock valued at $56,929,000 after acquiring an additional 720,000 shares in the last quarter. Norges Bank purchased a new stake in shares of Galaxy Digital in the 4th quarter valued at approximately $32,045,000. Clear Street Group Inc. boosted its stake in Galaxy Digital by 3.8% in the 4th quarter. Clear Street Group Inc. now owns 1,176,854 shares of the company's stock worth $26,314,000 after purchasing an additional 42,961 shares during the period. Finally, Fred Alger Management LLC grew its position in Galaxy Digital by 572.1% during the 4th quarter. Fred Alger Management LLC now owns 1,165,251 shares of the company's stock worth $26,055,000 after purchasing an additional 991,867 shares in the last quarter.

Galaxy Digital Stock Performance

Shares of GLXY opened at $24.69 on Friday. The firm has a fifty day moving average of $22.94 and a 200-day moving average of $24.91. The company has a market cap of $9.65 billion, a price-to-earnings ratio of -37.98 and a beta of 5.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. Galaxy Digital has a 1 year low of $16.43 and a 1 year high of $45.92.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.27. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. The firm had revenue of $8.71 billion for the quarter. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, equities analysts anticipate that Galaxy Digital will post -0.79 earnings per share for the current year.

About Galaxy Digital

Galaxy Digital Holdings Ltd. NASDAQ: GLXY is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy's business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.

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