Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report)'s stock price traded up 5.3% during mid-day trading on Wednesday . The stock traded as high as $25.55 and last traded at $25.43. 2,535,565 shares traded hands during trading, a decline of 30% from the average session volume of 3,608,078 shares. The stock had previously closed at $24.16.
Analyst Ratings Changes
Several analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Galaxy Digital in a report on Wednesday, July 23rd. They set a "buy" rating and a $35.00 price target for the company. BTIG Research reissued a "buy" rating and set a $35.00 price target on shares of Galaxy Digital in a report on Tuesday, August 5th. Benchmark boosted their price target on Galaxy Digital from $38.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Rosenblatt Securities cut their price target on Galaxy Digital from $36.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Galaxy Digital has a consensus rating of "Buy" and an average target price of $35.63.
View Our Latest Stock Analysis 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 has a 50-day moving average price of $25.28.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to analysts' expectations of $13.11 billion.
Insider Transactions at Galaxy Digital
In related news, Director Richard Tavoso sold 50,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $28.28, for a total value of $1,414,000.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Erin Elizabeth Brown sold 350,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total value of $9,443,000.00. Following the completion of the sale, the chief operating officer owned 198,088 shares in the company, valued at $5,344,414.24. This represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here.
Institutional Investors Weigh In On Galaxy Digital
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLXY. CWM LLC purchased a new stake in Galaxy Digital during the second quarter valued at approximately $26,000. Manchester Capital Management LLC purchased a new stake in Galaxy Digital during the second quarter valued at approximately $32,000. Centerpoint Advisors LLC purchased a new stake in Galaxy Digital during the second quarter valued at approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in Galaxy Digital during the second quarter valued at approximately $34,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in Galaxy Digital during the second quarter valued at approximately $37,000.
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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