Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report)'s share price traded down 8.4% during trading on Thursday . The company traded as low as $31.36 and last traded at $31.40. 4,652,472 shares changed hands during trading, an increase of 14% from the average session volume of 4,065,881 shares. The stock had previously closed at $34.29.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GLXY. Jefferies Financial Group began coverage on Galaxy Digital in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $35.00 price target on the stock. Canaccord Genuity Group raised their price target on Galaxy Digital from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. BTIG Research reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Galaxy Digital in a research note on Tuesday, August 5th. Benchmark lifted their price objective on Galaxy Digital from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Galaxy Digital currently has a consensus rating of "Buy" and a consensus price target of $35.63.
View Our Latest Stock Report on GLXY
Galaxy Digital Price Performance
The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34. The company's fifty day moving average is $27.72.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14. The company had revenue of $8.66 billion for the quarter, compared to the consensus estimate of $13.11 billion.
Insider Buying and Selling
In other Galaxy Digital news, Director Richard Tavoso sold 50,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $28.28, for a total transaction of $1,414,000.00. Following the completion of the transaction, the director owned 400,000 shares in the company, valued at approximately $11,312,000. The trade was a 11.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Medina Rhonda Adams sold 33,333 shares of the business'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 owned 112,053 shares of the company's stock, valued at $3,342,540.99. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 433,333 shares of company stock worth $11,851,323 in the last three months.
Institutional Investors Weigh In On Galaxy Digital
A number of institutional investors and hedge funds have recently modified their holdings of GLXY. Balyasny Asset Management L.P. acquired a new stake in shares of Galaxy Digital during the second quarter worth $113,435,000. Invesco Ltd. acquired a new position in Galaxy Digital during the second quarter valued at $53,233,000. Tidal Investments LLC acquired a new position in Galaxy Digital during the second quarter valued at $48,452,000. Geode Capital Management LLC acquired a new position in Galaxy Digital during the second quarter valued at $43,525,000. Finally, Marshall Wace LLP acquired a new position in Galaxy Digital during the second quarter valued at $35,568,000.
Galaxy Digital Company Profile
(
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.
Further Reading
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