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

Galaxy Digital (TSE:GLXY) had its price objective lifted by investment analysts at Stifel Nicolaus from C$20.00 to C$24.50 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 31.65% from the stock’s previous close.

Galaxy Digital Price Performance

GLXY traded down C$0.69 during trading on Wednesday, hitting C$18.61. 245,186 shares of the stock traded hands, compared to its average volume of 778,132. The firm has a market capitalization of C$2.33 billion, a P/E ratio of 3.39 and a beta of 3.17. Galaxy Digital has a 12-month low of C$6.01 and a 12-month high of C$20.12. The firm has a 50-day moving average of C$16.54 and a 200 day moving average of C$15.24.

Insiders Place Their Bets

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