Gemini Space Station (NASDAQ:GEMI) Shares Gap Down – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) shares gapped down before the market opened on Friday . The stock had previously closed at $14.99, but opened at $14.13. Gemini Space Station shares last traded at $14.36, with a volume of 1,748,492 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on GEMI. Mizuho began coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They issued an “outperform” rating and a $30.00 target price for the company. Barclays began coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $41.00 price objective for the company. Evercore ISI cut their target price on Gemini Space Station from $30.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. Keefe, Bruyette & Woods started coverage on Gemini Space Station in a research note on Tuesday, October 7th. They set a “market perform” rating and a $27.00 price target for the company. Finally, Needham & Company LLC cut their price objective on Gemini Space Station from $42.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.55.

Gemini Space Station Trading Down 11.8%

The stock has a fifty day simple moving average of $16.13.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The firm had revenue of $50.62 million during the quarter, compared to the consensus estimate of $45.87 million.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC bought a new stake in shares of Gemini Space Station in the third quarter valued at approximately $38,815,000. Altimeter Capital Management LP acquired a new position in Gemini Space Station during the 3rd quarter valued at $38,336,000. UBS Group AG bought a new stake in Gemini Space Station in the 3rd quarter valued at $31,994,000. Vanguard Group Inc. acquired a new stake in Gemini Space Station in the 3rd quarter worth $25,656,000. Finally, Squarepoint Ops LLC bought a new position in shares of Gemini Space Station during the 3rd quarter worth about $9,547,000.

Gemini Space Station Company Profile

Our mission is to unlock the next era of financial, creative, and personal freedom. Gemini envisions a future where crypto will redesign the global financial system, the internet, and money in a way that provides greater choice, independence, and opportunity for all. As a trusted bridge between the traditional financial system and the emerging cryptoeconomy, we are providing access for individuals and institutions to a decentralized future that is more open, fair, and secure.