Galaxy Digital Inc. (NASDAQ:GLXY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Galaxy Digital Inc. (NASDAQ:GLXY) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $39.50.

GLXY has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Galaxy Digital in a report on Friday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $39.00 price target on shares of Galaxy Digital in a report on Thursday, April 23rd. Weiss Ratings cut Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Citizens Jmp reissued a “market outperform” rating and set a $55.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. Finally, Wall Street Zen raised Galaxy Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd.

Institutional Investors Weigh In On Galaxy Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new stake in shares of Galaxy Digital in the second quarter worth about $80,000. Invesco Ltd. bought a new stake in shares of Galaxy Digital in the second quarter worth about $53,233,000. EverSource Wealth Advisors LLC bought a new stake in shares of Galaxy Digital in the second quarter worth about $116,000. First Trust Advisors LP bought a new stake in shares of Galaxy Digital in the second quarter worth about $13,376,000. Finally, Cerity Partners LLC bought a new stake in shares of Galaxy Digital in the second quarter worth about $219,000.

Galaxy Digital Price Performance

Shares of Galaxy Digital stock opened at $29.61 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.60 and a current ratio of 1.70. The stock’s fifty day moving average is $23.64 and its 200 day moving average is $25.42. The stock has a market cap of $11.54 billion and a P/E ratio of -61.69. Galaxy Digital has a one year low of $16.43 and a one year high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. The business had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period in the prior year, the business earned ($0.86) earnings per share. Sell-side analysts anticipate that Galaxy Digital will post -0.32 earnings per share for the current year.

About Galaxy Digital

Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) is a diversified financial services and investment management firm dedicated to the digital assets and blockchain technology sectors. Established in 2018 by Mike Novogratz, the company operates across trading, asset management, principal investing and advisory services. Galaxy Digital caters to institutional clients, high-net-worth investors and corporations seeking exposure to cryptocurrencies, decentralized finance (DeFi) protocols and other blockchain-based assets.

In its trading division, Galaxy Digital provides market-making, execution and over-the-counter (OTC) solutions for a wide range of digital tokens.