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

Galaxy Digital (TSE:GLXY) had its target price boosted by equities researchers at 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. Stifel Nicolaus’ price objective indicates a potential upside of 35.43% from the company’s previous close.

Galaxy Digital Trading Down 3.6 %

TSE GLXY opened at C$18.09 on Wednesday. The firm’s fifty day simple moving average is C$16.59 and its two-hundred day simple moving average is C$15.28. The firm has a market capitalization of C$2.26 billion, a P/E ratio of 3.28 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.

Insider Buying and Selling at Galaxy Digital

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