Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) saw strong trading volume on Tuesday . 6,695,057 shares were traded during mid-day trading, an increase of 146% from the previous session's volume of 2,724,900 shares.The stock last traded at $26.32 and had previously closed at $29.60.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Galaxy Digital in a research note on Thursday. They issued a "neutral" rating and a $30.00 price target on the stock. HC Wainwright raised Galaxy Digital to a "strong-buy" rating in a research note on Friday, May 16th. Maxim Group assumed coverage on Galaxy Digital in a research note on Thursday. They set a "buy" rating and a $40.00 target price on the stock. Jefferies Financial Group assumed coverage on Galaxy Digital in a research note on Wednesday, July 23rd. They set a "buy" rating and a $35.00 target price on the stock. Finally, Rosenblatt Securities lifted their target price on Galaxy Digital from $25.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Galaxy Digital has an average rating of "Moderate Buy" and an average price target of $35.00.
View Our Latest Analysis on Galaxy Digital
Galaxy Digital Stock Down 5.4%
The business has a 50-day moving average of $22.22.
Insider Buying and Selling
In other Galaxy Digital news, COO Erin Elizabeth Brown sold 353,956 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total transaction of $6,406,603.60. Following the completion of the sale, the chief operating officer owned 198,088 shares of the company's stock, valued at $3,585,392.80. This represents a 64.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew N. Siegel sold 223,169 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $18.10, for a total value of $4,039,358.90. Following the transaction, the general counsel owned 479,896 shares of the company's stock, valued at approximately $8,686,117.60. This trade represents a 31.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,668,671 shares of company stock worth $175,359,900 over the last ninety days.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of GLXY. Harbour Capital Advisors LLC acquired a new position in shares of Galaxy Digital during the second quarter worth approximately $349,000. AdvisorNet Financial Inc acquired a new position in shares of Galaxy Digital during the second quarter worth approximately $125,000. SJS Investment Consulting Inc. acquired a new position in shares of Galaxy Digital during the second quarter worth approximately $77,000. Accurate Wealth Management LLC acquired a new position in shares of Galaxy Digital during the second quarter worth approximately $440,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Galaxy Digital during the second quarter worth approximately $79,000.
Galaxy Digital Company Profile
(
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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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