Galaxy Digital (NASDAQ:GLXY) Upgraded by Wall Street Zen to “Hold” Rating

Galaxy Digital (NASDAQ:GLXY) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

GLXY has been the topic of several other reports. BTIG Research reissued a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a research note on Tuesday, August 5th. Piper Sandler increased their price objective on shares of Galaxy Digital from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, July 21st. HC Wainwright raised shares of Galaxy Digital to a “strong-buy” rating in a research note on Friday, May 16th. Atb Cap Markets upgraded Galaxy Digital to a “strong-buy” rating in a report on Tuesday, May 20th. Finally, Canaccord Genuity Group upped their price target on Galaxy Digital from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $35.63.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $26.09 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $23.81. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $33.17.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to analyst estimates of $13.11 billion.

Insider Buying and Selling at Galaxy Digital

In other news, CEO Michael Novogratz sold 4,380,967 shares of Galaxy Digital 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 sale, the chief executive officer owned 348,921 shares of the company’s stock, valued at approximately $6,315,470.10. The trade was a 92.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew N. Siegel sold 223,169 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 transaction of $4,039,358.90. Following the sale, the general counsel directly owned 479,896 shares in the company, valued at approximately $8,686,117.60. The trade was a 31.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,068,671 shares of company stock worth $186,216,900.

Institutional Trading of Galaxy Digital

Institutional investors have recently made changes to their positions in the company. CWM LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at approximately $26,000. Manchester Capital Management LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at approximately $32,000. Centerpoint Advisors LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at approximately $34,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at approximately $37,000.

Galaxy Digital Company Profile

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.