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

Galaxy Digital (TSE:GLXY) had its price objective raised by equities research analysts at Stifel Nicolaus from C$20.00 to C$24.50 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 35.43% from the stock’s current price.

Galaxy Digital Stock Down 3.6 %

Shares of TSE GLXY opened at C$18.09 on Wednesday. The firm has a market cap of C$2.26 billion, a price-to-earnings ratio of 3.28 and a beta of 3.17. The company’s 50-day simple moving average is C$16.59 and its 200-day simple moving average is C$15.28. Galaxy Digital has a 52-week low of C$6.01 and a 52-week high of C$20.12.

Insider Buying and Selling at Galaxy Digital

In other news, Director Erin Brown sold 10,000 shares of the company’s 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 other Galaxy Digital news, Director Erin Brown sold 10,000 shares of the firm’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. Also, Director Christopher Charles Ferraro sold 3,300 shares of the company’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 value of C$61,709.67. Insiders own 2.07% of the company’s stock.

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.