Galaxy Digital (NASDAQ:GLXY) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp initiated coverage on shares of Galaxy Digital (NASDAQ:GLXY) in a report published on Tuesday morning, Marketbeat Ratings reports. The firm issued a market outperform rating and a $60.00 price objective on the stock.

GLXY has been the subject of several other reports. Benchmark boosted their price target on Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded Galaxy Digital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Citigroup initiated coverage on shares of Galaxy Digital in a research report on Tuesday. They set an “outperform” rating for the company. Rosenblatt Securities raised their price target on shares of Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Galaxy Digital from $34.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $46.00.

Galaxy Digital Stock Performance

Shares of GLXY stock opened at $29.45 on Tuesday. The firm has a market cap of $11.50 billion and a price-to-earnings ratio of 24.54. Galaxy Digital has a 52-week low of $8.20 and a 52-week high of $45.92. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $32.79 and its 200 day moving average is $27.63.

Insider Activity at Galaxy Digital

In related news, insider Christopher C. Ferraro sold 750,000 shares of the company’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $27,000,000.00. Following the transaction, the insider directly owned 687,921 shares of the company’s stock, valued at $24,765,156. This represents a 52.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas R. Deason purchased 10,000 shares of the stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $29.59 per share, with a total value of $295,900.00. Following the transaction, the director owned 10,000 shares in the company, valued at $295,900. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 3,783,333 shares of company stock valued at $135,994,323 over the last three months.

Institutional Investors Weigh In On Galaxy Digital

Large investors have recently bought and sold shares of the company. CWM LLC purchased a new position in Galaxy Digital during the 2nd quarter worth approximately $26,000. Manchester Capital Management LLC acquired a new stake in shares of Galaxy Digital in the second quarter worth $32,000. Centerpoint Advisors LLC purchased a new position in shares of Galaxy Digital during the second quarter worth $33,000. DHJJ Financial Advisors Ltd. acquired a new position in Galaxy Digital during the second quarter valued at $34,000. Finally, North Star Investment Management Corp. acquired a new position in Galaxy Digital during the third quarter valued at $34,000.

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.