Galaxy Digital (TSE:GLXY) Trading Down 11.8% – Here’s Why

Galaxy Digital Holdings Ltd. (TSE:GLXY) shares dropped 11.8% on Monday . The stock traded as low as C$28.45 and last traded at C$28.68. Approximately 735,996 shares changed hands during 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 Upgrades and Downgrades

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

Galaxy Digital Trading Down 13.9 %

The stock has a market capitalization of C$3.50 billion, a PE ratio of 5.08 and a beta of 3.17. The business has a fifty day moving average price of C$27.14 and a 200-day moving average price of C$20.40.

Insider Transactions at Galaxy Digital

In other news, Director Bill Koutsouras sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of C$25.00, for a total value of C$1,250,000.00. Company insiders own 2.07% of the company’s stock.

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.