Galaxy Digital is a global leading company offering Investment Banking, Venture Capital and Asset management services to Institutional Clients in the area of Crypto Currency and Blockchain. They currently have more than 900 Institutional Clients. Galaxy partners with four different asset managers in four countries to develop and manage Crypto related products. This includes four Bitcoin Spot ETFs that are currently approved.
Should the price decline again, the six dollar area should be support. The added analyst comments would help hold the price. Galaxy is still reactive to the price of Bitcoin, so factor this into your personal approach to the market be you a trader or a dollar-cost-averaging investor.
Previously, on Tuesday January 23, 2024, LOTM comment to subscribers, when the stock was below six dollars, that the price decline was extended and a price below $6 was a buying opportunity. I am very positive on the longer-term performance of bitcoin. I am firm on my belief that this will impact Galaxy stock price favorably. Should Galaxy get approved to trade on a US Stock Exchange, this would also be a positive catalyst for the stock. Currently Galaxy trades on the Pink Sheets in the USA.
Personally, I hold an over-weight position in Galaxy Digital shares. I consider it a core position but will trade between 5% to 30% of the position at any time and without prior notice. We buy companies first and try to be an opportunistic trader on exaggerated price movement.
As with any stock purchase, do your own due diligence. Try to buy into weakness for a better execution. Dollar-cost-average into a position. This is a good idea even if short-term trading. Know your exit strategy ahead of time and understand your own risk management profile.
See below for the TipRanks article. We find TipRanks a very useful resource and recommend the site but have no affiliation with TipRanks.
Thanks for reading. Tom
Analysts Offer Insights on Financial Companies: Invesco (IVZ), Everest Group (EG) and Galaxy Digital Holdings (BRPHF) – from TipRanks
Howard Kiman 11, 2024, 06:31 AM – Source linked here at TipRanks.
There’s a lot to be optimistic about in the Financial sector as 3 analysts just weighed in on Invesco (IVZ – Research Report), Everest Group (EG – Research Report) and Galaxy Digital Holdings (BRPHF – Research Report) with bullish sentiments.
Invesco (IVZ)
Wells Fargo analyst Finian O’Shea maintained a Buy rating on Invesco yesterday and set a price target of $20.00. The company’s shares closed last Wednesday at $17.86.
According to TipRanks.com, O’Shea is a 4-star analyst with an average return of 6.7% and a 59.4% success rate. O’Shea covers the Financial sector, focusing on stocks such as Sixth Street Specialty Lending, Bain Capital Specialty Finance, and TriplePoint Venture Growth.
Invesco has an analyst consensus of Moderate Buy, with a price target consensus of $16.85, representing a -5.1% downside. In a report issued on January 3, TD Cowen also initiated coverage with a Buy rating on the stock with a $21.00 price target.
Everest Group (EG)
Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Everest Group today and set a price target of $484.00. The company’s shares closed last Wednesday at $370.50.
According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 10.5% and a 61.8% success rate. Greenspan covers the Financial sector, focusing on stocks such as Hamilton Insurance Group, Ltd. Class B, American International Group, and Marsh & Mclennan Companies.
Currently, the analyst consensus on Everest Group is a Moderate Buy with an average price target of $454.00, representing a 24.3% upside. In a report issued on January 9, Jefferies also maintained a Buy rating on the stock with a $455.00 price target.
Galaxy Digital Holdings (BRPHF)
Benchmark Co. analyst Michael Legg reiterated a Buy rating on Galaxy Digital Holdings today and set a price target of $15.00. The company’s shares closed last Wednesday at $8.22, close to its 52-week high of $9.32.
According to TipRanks.com, Legg is ranked #1066 out of 8658 analysts.
Galaxy Digital Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $12.36.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Read More on IVZ:
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Written January 26, 2024, by Tom Linzmeier
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