Stifel Nicolaus Issues Positive Forecast for Galaxy Digital (TSE:GLXY) Stock Price

Galaxy Digital (TSE:GLXY) had its target price upped by Stifel Nicolaus from C$20.00 to C$24.50 in a report released on Wednesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Galaxy Digital Stock Down 5.9 %

Shares of Galaxy Digital stock opened at C$17.02 on Wednesday. The stock has a market capitalization of C$2.13 billion, a P/E ratio of 3.09 and a beta of 3.17. Galaxy Digital has a 12-month low of C$6.80 and a 12-month high of C$20.12. The company has a 50-day simple moving average of C$16.66 and a 200 day simple moving average of C$15.34.

Insiders Place Their Bets

In related news, Director Erin Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of C$18.00, for a total value of C$180,000.00. In other news, Director Christopher Charles Ferraro sold 3,300 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of C$18.70, for a total value of C$61,709.67. Also, Director Erin Brown sold 10,000 shares of Galaxy Digital stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of C$18.00, for a total transaction of C$180,000.00. Insiders own 2.07% of the company’s stock.

About Galaxy Digital

Galaxy Digital Holdings Ltd. engages in the digital asset and blockchain businesses. It operates through three segments: Global Markets, Asset Management, and Digital Infrastructure Solutions. The company provides various financial products and services to individuals and institutions, such as digital asset trading, derivatives, structured products, financing, capital markets, and merger and acquisition services, digital asset spot and derivatives trading, bespoke lending and structured products.