Galaxy Digital (NASDAQ:GLXY) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Shares of Galaxy Digital saw an unusual intraday surge with 18.88 million shares traded (a ~198% increase vs. the prior session) as the stock moved up to about $26.34 from a $24.43 close.
• Analyst views are mixed but tilted positive: the consensus is a "Moderate Buy" with an average target of $40.77, while individual price targets range widely (e.g., Canaccord $50, Morgan Stanley $36, Goldman $21).
• Insiders and institutions have been increasing exposure — Director Douglas R. Deason bought 25,000 shares at $20.80, and large holders like Vanguard materially boosted their stakes — signaling notable insider and institutional buying interest.

Shares of Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) saw an uptick in trading volume on Friday . 18,883,063 shares changed hands during mid-day trading, an increase of 198% from the previous session's volume of 6,336,813 shares.The stock last traded at $26.3350 and had previously closed at $24.43.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GLXY. Morgan Stanley lowered their price target on shares of Galaxy Digital from $43.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, February 4th. Wall Street Zen lowered shares of Galaxy Digital from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Citigroup boosted their price target on shares of Galaxy Digital from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, March 18th. Canaccord Genuity Group reissued a "buy" rating and issued a $50.00 price target on shares of Galaxy Digital in a report on Friday, January 30th. Finally, The Goldman Sachs Group lowered their price target on shares of Galaxy Digital from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.77.

Galaxy Digital Trading Up 5.8%

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $10.05 billion and a price-to-earnings ratio of 215.33. The business's 50-day simple moving average is $21.01 and its 200-day simple moving average is $26.92.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.24) by $0.16. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $13.08 billion.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason bought 25,000 shares of the business's stock in a transaction on Wednesday, February 4th. The shares were bought at an average cost of $20.80 per share, for a total transaction of $520,000.00. Following the transaction, the director owned 59,000 shares in the company, valued at approximately $1,227,200. This trade represents a 73.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Galaxy Digital

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Galaxy Digital by 173.8% in the 4th quarter. SG Americas Securities LLC now owns 252,558 shares of the company's stock valued at $5,647,000 after acquiring an additional 160,305 shares during the period. Vanguard Group Inc. increased its stake in Galaxy Digital by 15.5% during the 3rd quarter. Vanguard Group Inc. now owns 16,206,111 shares of the company's stock worth $547,950,000 after purchasing an additional 2,179,540 shares in the last quarter. Rovida Investment Management Ltd increased its stake in Galaxy Digital by 21.2% during the 3rd quarter. Rovida Investment Management Ltd now owns 1,861,200 shares of the company's stock worth $62,890,000 after purchasing an additional 325,000 shares in the last quarter. Polianta Ltd bought a new stake in Galaxy Digital during the 4th quarter worth approximately $1,379,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Galaxy Digital during the 3rd quarter worth approximately $9,128,000.

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.

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