Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) shot up 8.7% during trading on Monday . The stock traded as high as $30.23 and last traded at $30.20. 2,993,821 shares were traded during mid-day trading, a decline of 5% from the average session volume of 3,150,664 shares. The stock had previously closed at $27.78.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on GLXY shares. Benchmark lifted their price objective on shares of Galaxy Digital from $38.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Rosenblatt Securities lowered their price target on shares of Galaxy Digital from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Maxim Group assumed coverage on shares of Galaxy Digital in a research note on Thursday, July 31st. They set a "buy" rating and a $40.00 price objective for the company. HC Wainwright raised Galaxy Digital to a "strong-buy" rating in a research report on Friday, May 16th. Finally, BTIG Research reissued a "buy" rating and set a $35.00 price target on shares of Galaxy Digital in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $35.63.
Read Our Latest Report on Galaxy Digital
Galaxy Digital Price Performance
The stock's 50 day moving average is $23.81. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released 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.
Insiders Place Their Bets
In other Galaxy Digital news, CEO Michael Novogratz sold 4,380,967 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 348,921 shares in the company, valued at $6,315,470.10. This trade represents a 92.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard Tavoso sold 50,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $28.28, for a total value of $1,414,000.00. Following the completion of the transaction, the director directly owned 400,000 shares in the company, valued at $11,312,000. The trade was a 11.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,068,671 shares of company stock worth $186,216,900 in the last 90 days.
Hedge Funds Weigh In On Galaxy Digital
Several hedge funds and other institutional investors have recently made changes to their positions in GLXY. Tower Research Capital LLC TRC bought a new position in shares of Galaxy Digital in the 2nd quarter valued at $278,000. Corient Private Wealth LLC acquired a new position in Galaxy Digital in the 2nd quarter valued at approximately $433,000. Sender Co & Partners Inc. bought a new position in shares of Galaxy Digital during the second quarter valued at $389,000. Captrust Financial Advisors acquired a new position in shares of Galaxy Digital during the second quarter worth $241,000. Finally, Vident Advisory LLC bought a new stake in shares of Galaxy Digital in the second quarter worth $4,588,000.
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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