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

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

Several other research firms have also recently commented on GLXY. Jefferies Financial Group initiated coverage on shares of Galaxy Digital in a research report on Wednesday, July 23rd. They set a “buy” rating and a $35.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Galaxy Digital in a research report on Thursday, July 31st. They set a “neutral” rating and a $30.00 target price on the stock. Atb Cap Markets raised shares of Galaxy Digital to a “strong-buy” rating in a research report on Tuesday, May 20th. Canaccord Genuity Group lifted their price objective on shares of Galaxy Digital from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Galaxy Digital in a research report on Tuesday, August 5th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $35.63.

Galaxy Digital Stock Down 8.7%

Shares of GLXY stock opened at $26.09 on Friday. Galaxy Digital has a 52-week low of $8.20 and a 52-week high of $33.17. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $23.81.

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

Insiders Place Their Bets

In other news, insider Christopher C. Ferraro sold 1,250,000 shares of the business’s 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 sale, the insider owned 1,437,921 shares of the company’s stock, valued at $26,026,370.10. The trade was a 46.50% decrease in their ownership of the stock. The transaction 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 business’s 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 sale, the chief operating officer directly owned 198,088 shares in the company, valued at approximately $5,344,414.24. This trade represents a 63.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,068,671 shares of company stock valued at $186,216,900.

Institutional Trading of Galaxy Digital

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Galaxy Digital in the 2nd quarter worth $278,000. Corient Private Wealth LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at about $433,000. Sender Co & Partners Inc. purchased a new stake in Galaxy Digital during the 2nd quarter valued at about $389,000. Captrust Financial Advisors purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $241,000. Finally, Vident Advisory LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $4,588,000.

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.