Galaxy Digital Shares Soar 13.7% as Bitcoin Tops $73,000
Galaxy Digital shares jumped 13.7% to $23.53 as Bitcoin rallied above $73,000, gaining 6.5% intraday. The stock trades 12.8% above its 20-day moving average and carries an average analyst price target of $42.54 from Buy-rated firms.
1. Bitcoin Rally Lifts Galaxy Digital
Bitcoin’s rally above $73,000, up 6.5% on the day, drove demand for Galaxy Digital’s trading, liquidity and hedging services by boosting volumes and volatility in digital-asset markets.
2. Stock Performance and Technical Indicators
Shares of Galaxy Digital climbed 13.73% to $23.53 and now trade 12.77% above their 20-day simple moving average, positioning the stock closer to its 52-week high than its low.
3. Analyst Ratings and Price Targets
Analysts maintain a bullish outlook with an average Buy rating price target of $42.54; Citigroup and Goldman Sachs set neutral targets at $25 and $24, while Morgan Stanley holds an overweight target of $36.