Galaxy Digital’s (GLXY) Hold (C-) Rating Reiterated at Weiss Ratings

Galaxy Digital (NASDAQ:GLXY)‘s stock had its “hold (c-)” rating reiterated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the stock. BTIG Research restated a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a report on Tuesday, August 5th. Maxim Group initiated coverage on shares of Galaxy Digital in a report on Thursday, July 31st. They set a “buy” rating and a $40.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Galaxy Digital from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler boosted their price target on shares of Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of Galaxy Digital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.88.

Galaxy Digital Stock Performance

GLXY opened at $41.39 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34. Galaxy Digital has a 1-year low of $8.20 and a 1-year high of $42.22. The business has a 50 day moving average price of $29.14.

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

Insider Activity at Galaxy Digital

In related news, Director Richard Tavoso sold 50,000 shares of the firm’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 sale, the director owned 400,000 shares of the company’s stock, valued at $11,312,000. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Erin Elizabeth Brown sold 350,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the completion of the transaction, 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. Insiders sold a total of 433,333 shares of company stock valued at $11,851,323 over the last quarter.

Institutional Investors Weigh In On Galaxy Digital

Institutional investors and hedge funds have recently modified their holdings of the company. Sullivan Wood Capital Management LLC acquired a new position in Galaxy Digital in the 2nd quarter valued at about $26,699,000. Accurate Wealth Management LLC acquired a new position in Galaxy Digital in the 2nd quarter valued at about $440,000. Harbour Capital Advisors LLC acquired a new position in Galaxy Digital in the 2nd quarter valued at about $349,000. SJS Investment Consulting Inc. acquired a new position in Galaxy Digital in the 2nd quarter valued at about $77,000. Finally, AdvisorNet Financial Inc acquired a new position in Galaxy Digital in the 2nd quarter valued at about $125,000.

About Galaxy Digital

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.