GLXY rose 6.8% on low volume after product launches and a Texas Tech stadium deal. Analysts are split. Goldman cut its target to $21. Consensus sits at $39.29.
Galaxy Digital (GLXY) climbed 6.8% on Monday, hitting an intraday high of $22.99 before settling near $23.10. The move came on just 585,500 shares, a fraction of the 6.4 million shares that typically trade in a session.
The session followed a batch of product announcements from the firm. Galaxy launched Galaxy Curator, an institutional custody platform, and GOFR, an onchain financing tool. Separately, the firm finalized a 15-year naming-rights deal for Texas Tech University's football stadium and said the first phase of its Helios data center was complete, adding AI-hosting capacity.
Citi and Piper Sandler reaffirmed their ratings on the stock after the news. Wall Street consensus sits at 12 Buy and 2 Hold, with a single Sell rating. The average price target of $39.29 implies roughly 70% upside from current levels. Goldman Sachs cut its price objective to $21 in April, putting it below the stock. The firm carries an Alpha Score of 45 out of 100 from AlphaScala, a Mixed rating.
Galaxy reported an adjusted loss of $0.49 per share for the latest quarter, narrower than the $0.59 loss analysts expected. Revenue reached $10.21 billion. The company's net margin is negative 0.54% and return on equity stands at negative 2.30%. The full-year consensus forecast calls for a loss of $0.32 a share.
Director Michael Daffey sold 250,000 shares on May 21 at $28.77, proceeds of $7.19 million. The sale reduced his stake by 14.24%.
On the institutional side, Vanguard raised its position by 27.5% in the fourth quarter. Capital Research Global Investors opened a new stake worth roughly $406 million.
GLXY trades at $23.10, below its 50-day moving average of $28.75 and its 200-day average of $25.63. The stock is down 3.26% year to date. Its beta of 4.84 puts it among the most volatile names in the sector.
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