Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $30.00 to $34.00. The Goldman Sachs Group currently has a neutral rating on the stock. Galaxy Digital traded as high as $39.68 and last traded at $38.84, with a volume of 7989476 shares traded. The stock had previously closed at $36.16.
A number of other equities analysts also recently issued reports on GLXY. BTIG Research reaffirmed a "buy" rating and set a $35.00 price target on shares of Galaxy Digital in a research report on Tuesday, August 5th. Wall Street Zen raised Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Rosenblatt Securities reduced their price target on Galaxy Digital from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Benchmark upped their price target on Galaxy Digital from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Maxim Group initiated coverage on Galaxy Digital in a research report on Thursday, July 31st. They set a "buy" rating and a $40.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $36.88.
Check Out Our Latest Stock Analysis on GLXY
Insider Activity at Galaxy Digital
In related news, Director Medina Rhonda Adams sold 33,333 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $29.83, for a total value of $994,323.39. Following the transaction, the director directly owned 112,053 shares of the company's stock, valued at $3,342,540.99. This represents a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Tavoso sold 50,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $28.28, for a total value of $1,414,000.00. Following the completion of the transaction, the director directly owned 400,000 shares in the company, valued at approximately $11,312,000. The trade was a 11.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 433,333 shares of company stock valued at $11,851,323 in the last ninety days.
Institutional Investors Weigh In On Galaxy Digital
Hedge funds have recently added to or reduced their stakes in the business. Sullivan Wood Capital Management LLC purchased a new stake in Galaxy Digital in the second quarter valued at $26,699,000. Accurate Wealth Management LLC purchased a new stake in Galaxy Digital in the second quarter valued at $440,000. Harbour Capital Advisors LLC purchased a new stake in Galaxy Digital in the second quarter valued at $349,000. SJS Investment Consulting Inc. purchased a new stake in Galaxy Digital in the second quarter valued at $77,000. Finally, AdvisorNet Financial Inc purchased a new stake in Galaxy Digital in the second quarter valued at $125,000.
Galaxy Digital Price Performance
The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.34 and a current ratio of 1.34. The business's fifty day simple moving average is $28.63.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The business had revenue of $8.66 billion during the quarter, compared to analysts' expectations of $13.11 billion.
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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