Galaxy Digital (TSE:GLXY) Trading Down 11.8% – Should You Sell?

Galaxy Digital Holdings Ltd. (TSE:GLXY) shares were down 11.8% during trading on Monday . The stock traded as low as C$28.45 and last traded at C$28.68. Approximately 735,996 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 1,036,042 shares. The stock had previously closed at C$32.52.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their target price on Galaxy Digital from C$20.00 to C$24.50 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Galaxy Digital Price Performance

The firm has a 50-day simple moving average of C$27.14 and a 200 day simple moving average of C$20.40. The firm has a market cap of C$3.50 billion, a PE ratio of 5.08 and a beta of 3.17.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, Director Bill Koutsouras sold 50,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of C$25.00, for a total value of C$1,250,000.00. 2.07% of the stock is currently owned by corporate insiders.

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.