Galaxy Digital Inc. (NASDAQ:GLXY) shares are in the spotlight Thursday, with earnings on deck, the data center business in focus, recent analyst activity and a technical setup showing a stock near its 52-week low all drawing attention.
- Galaxy Digital stock is showing notable weakness. Why are GLXY shares down?
Earnings Preview & History
Galaxy Digital is scheduled to report third-quarter earnings on October 27 before the market opens. Analysts estimate a loss of 6 cents per share and revenue of $9.04 billion. For the prior quarter, Galaxy reported a loss of 9 cents per share, failing to beat the consensus estimate of a loss of 5 cents. The company also posted revenue of $8.56 billion, missing the consensus estimate of $14.22 billion.
What to Watch: Data Centers, Crypto and Treasury Volatility
Investors will be closely tracking the data center business. Galaxy expects the full 133 MW of Helios Phase I, now delivered to CoreWeave, to generate quarterly leasing revenue of about $80 million and a project-level adjusted EBITDA margin above 90% beginning in the third quarter. The digital assets business will also be in focus after adjusted gross profit rose 34% from the first quarter to $66 million in the second, even as trading volumes fell 7%.
Results in the treasury and corporate segment, which posted an adjusted gross loss of $42 million on unrealized losses on digital assets and investments, will show how much price swings still drive the bottom line. Updates on the new data center sites Galaxy acquired in the second quarter will draw attention as well.
Analyst Consensus & Recent Actions
The stock carries a Buy rating with an average price forecast of $40.50. Recent analyst moves include:
- Piper Sandler: Overweight (Lowers Target to $25.00) (Oct. 20)
- Citigroup: Upgraded to Buy (Raises Target to $28.00) (Oct. 13)
- Morgan Stanley: Overweight (Lowers Target to $43.00) (Oct. 12)
A Clear Downtrend, with August Death Cross Still Weighing and 52-Week Low Close By
From a longer-term trend perspective, GLXY is still in a clear downtrend: it’s trading 22.2% below its 20-day SMA ($20.57) and 34.9% below its 200-day SMA ($24.56), which tells you rallies have been failing well before the market can reprice the stock back to “trend.” The bearish crossover stack also remains in place, with the 20-day SMA below the 50-day SMA and the death cross (50-day SMA below the 200-day SMA) that formed in August still acting like a headwind.
MACD is the cleaner momentum lens right now: it’s below its signal line and the histogram is negative, which points to fading upside pressure versus the prior upswing unless buyers can reclaim that baseline. Practically, that means bounces can still happen, but the chart is saying follow-through has been hard to sustain.
The nearby map is straightforward: the stock is hovering just above the 52-week low ($15.03), so that zone is the first “line in the sand” traders will watch for a breakdown or a defend-and-bounce. Overhead, the first real repair work doesn’t start until the stock can work back toward the $19–$21 area where the 20-day EMA ($19.75) and 20-day SMA ($20.57) sit, because that’s where recent downside momentum has been resetting.
- Key Resistance: $20.57 — aligns with the 20-day SMA, a common “first test” level in counter-trend bounces
- Key Support: $15.03 — the 52-week low zone that’s now the most immediate downside reference
Galaxy Shares Drop
GLXY Price Action: At the time of publication, Galaxy shares are trading 5.08% lower at $16.07, according to data from Benzinga Pro.
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