Stifel Nicolaus Forecasts Strong Price Appreciation for Galaxy Digital (TSE:GLXY) Stock

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

Galaxy Digital Trading Down 5.9 %

GLXY stock opened at C$17.02 on Wednesday. Galaxy Digital has a 1-year low of C$6.80 and a 1-year high of C$20.12. The firm has a market cap of C$2.13 billion, a PE ratio of 3.09 and a beta of 3.17. The business’s 50-day moving average price is C$16.66 and its two-hundred day moving average price is C$15.34.

Insider Activity at Galaxy Digital

In other news, Director Erin Brown sold 10,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$18.00, for a total transaction of C$180,000.00. In related news, Director Christopher Charles Ferraro sold 3,300 shares of Galaxy Digital stock in a transaction that occurred 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. Also, Director Erin Brown sold 10,000 shares of the company’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. 2.07% of the stock is owned by insiders.

Galaxy Digital Company Profile

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.