Galaxy Digital (NASDAQ:GLXY) Shares Gap Up - Time to Buy?

Key Points

• Galaxy Digital shares gapped up pre-market, opening at $23.72 after a $22.50 close and last trading around $24.34 (up ~6.4%) on roughly 2.12 million shares.
• Analyst views are mixed but tilt positive — MarketBeat shows an average rating of Moderate Buy with an average target of $40.77, while individual reports range from a sell to a buy and price targets of about $21 to $46.
• The company has a $9.32 billion market cap and reported a narrower-than-expected EPS loss of ($1.08) despite revenue missing estimates, and insider activity included Director Douglas R. Deason buying 25,000 shares at $20.80.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $22.50, but opened at $23.72. Galaxy Digital shares last traded at $24.3360, with a volume of 2,123,953 shares trading hands.

Analyst Upgrades and Downgrades

GLXY has been the subject of several research analyst reports. Wall Street Zen downgraded Galaxy Digital from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. The Goldman Sachs Group cut their price objective on Galaxy Digital from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday, April 8th. Citigroup lifted their price objective on Galaxy Digital from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, March 18th. Morgan Stanley cut their price objective on Galaxy Digital from $43.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, February 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $46.00 price objective on shares of Galaxy Digital in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $40.77.

Galaxy Digital Trading Up 6.4%

The company has a market cap of $9.32 billion and a P/E ratio of 198.43. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $20.74 and a two-hundred day moving average price of $27.00.

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

Insider Buying and Selling at Galaxy Digital

In other news, Director Douglas R. Deason bought 25,000 shares of the company's stock in a transaction dated Wednesday, February 4th. The stock was bought at an average price of $20.80 per share, for a total transaction of $520,000.00. Following the completion of the transaction, the director directly owned 59,000 shares in the company, valued at $1,227,200. The trade was a 73.53% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Galaxy Digital

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of Galaxy Digital by 173.8% during the fourth quarter. SG Americas Securities LLC now owns 252,558 shares of the company's stock worth $5,647,000 after purchasing an additional 160,305 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Galaxy Digital by 15.5% in the third quarter. Vanguard Group Inc. now owns 16,206,111 shares of the company's stock valued at $547,950,000 after purchasing an additional 2,179,540 shares in the last quarter. Rovida Investment Management Ltd lifted its holdings in shares of Galaxy Digital by 21.2% in the third quarter. Rovida Investment Management Ltd now owns 1,861,200 shares of the company's stock valued at $62,890,000 after purchasing an additional 325,000 shares in the last quarter. Polianta Ltd bought a new stake in shares of Galaxy Digital in the fourth quarter valued at about $1,379,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Galaxy Digital in the third quarter valued at about $9,128,000.

Galaxy Digital Company Profile

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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