Core Viewpoint - Galaxy Digital Inc. has announced a $200 million share repurchase program, reflecting confidence in its long-term prospects despite current bearish trends in its stock performance [2][4]. Group 1: Share Repurchase Program - The board of directors approved a program allowing the company to buy back up to $200 million of its Class A common stock, indicating a strong balance sheet [2]. - The repurchase will comply with securities laws and stock exchange requirements, providing flexibility in timing and amount of shares repurchased [3]. - The program is set to last for 12 months, allowing the company to return capital to shareholders when the stock price does not reflect its value [3]. Group 2: Stock Performance and Technical Indicators - Galaxy Digital shares are currently trading 31.4% below their 20-day simple moving average (SMA) and 36.4% below their 100-day SMA, indicating a bearish trend [4]. - The stock has decreased 15.66% over the past 12 months and is closer to its 52-week lows than highs, reflecting ongoing challenges [4]. - The Relative Strength Index (RSI) is at 27.54, suggesting the stock may be undervalued, while the MACD indicates bearish pressure [5]. Group 3: Upcoming Earnings and Analyst Consensus - The next earnings report is anticipated on May 23, 2026 [6]. - The stock carries a Buy Rating with an average price target of $44, with recent analyst actions including varied target adjustments from firms like Morgan Stanley and Goldman Sachs [7]. - At the time of publication, shares were up 16.98% at $19.70, with key resistance at $21.50 and support at $17.50 [7].
Galaxy Digital Shares Surge Nearly 16% After Company Announces $200 Million Share Buyback Program