Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) rose 8.7% during trading on Monday . The stock traded as high as $30.23 and last traded at $30.20. Approximately 2,993,821 shares changed hands during trading, a decline of 5% from the average daily volume of 3,150,664 shares. The stock had previously closed at $27.78.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on GLXY. Benchmark upgraded Galaxy Digital from a "buy" rating to a "strong-buy" rating and boosted their price objective for the company from $38.00 to $40.00 in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Galaxy Digital to a "sell" rating in a report on Friday, July 18th. Jefferies Financial Group initiated coverage on Galaxy Digital in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $35.00 price objective for the company. HC Wainwright upgraded Galaxy Digital to a "strong-buy" rating in a research note on Friday, May 16th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Galaxy Digital in a report on Tuesday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $35.63.
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Galaxy Digital Stock Performance
The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.34 and a current ratio of 1.34. The business's 50-day moving average is $22.95.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 earnings per share (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 the consensus estimate of $13.11 billion.
Insider Transactions at Galaxy Digital
In related news, insider Christopher C. Ferraro sold 1,250,000 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $18.10, for a total value of $22,625,000.00. Following the completion of the sale, the insider directly owned 1,437,921 shares in the company, valued at $26,026,370.10. This trade represents a 46.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Novogratz sold 4,380,967 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $18.10, for a total transaction of $79,295,502.70. Following the completion of the transaction, the chief executive officer owned 348,921 shares of the company's stock, valued at approximately $6,315,470.10. This represents a 92.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,068,671 shares of company stock valued at $186,216,900.
Hedge Funds Weigh In On Galaxy Digital
A number of hedge funds have recently modified their holdings of the business. Harbour Capital Advisors LLC acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at approximately $349,000. AdvisorNet Financial Inc purchased a new stake in shares of Galaxy Digital during the 2nd quarter worth about $125,000. SJS Investment Consulting Inc. acquired a new position in shares of Galaxy Digital during the 2nd quarter valued at about $77,000. Accurate Wealth Management LLC acquired a new stake in Galaxy Digital in the 2nd quarter valued at approximately $440,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Galaxy Digital during the 2nd 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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