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

Galaxy Digital Holdings Ltd. (TSE:GLXY) shares were down 11.8% during mid-day trading on Monday . The company traded as low as C$28.45 and last traded at C$28.68. Approximately 735,996 shares traded 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 Ratings Changes

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

Galaxy Digital Stock Up 1.9 %

The stock has a market capitalization of C$3.48 billion, a P/E ratio of 5.06 and a beta of 3.17. The stock’s 50 day moving average price is C$27.21 and its 200-day moving average price is C$20.50.

Insider Buying and Selling at Galaxy Digital

In other news, Director Bill Koutsouras sold 50,000 shares of Galaxy Digital 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. 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.