Commonwealth Bank of Australia Invests $7.09 Million in Gemini Space Station, Inc. $GEMI

Commonwealth Bank of Australia purchased a new position in Gemini Space Station, Inc. (NASDAQ:GEMI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 714,284 shares of the company’s stock, valued at approximately $7,086,000. Gemini Space Station accounts for approximately 1.4% of Commonwealth Bank of Australia’s investment portfolio, making the stock its 2nd largest position. Commonwealth Bank of Australia owned 0.61% of Gemini Space Station as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Gemini Space Station in the 3rd quarter worth approximately $51,000. National Bank of Canada FI bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $123,000. Man Group plc bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $201,000. Sandia Investment Management LP bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $228,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $229,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on GEMI. Citigroup lowered their price objective on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating for the company in a research note on Tuesday, April 28th. Needham & Company LLC lowered their price objective on shares of Gemini Space Station from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price objective on shares of Gemini Space Station in a research note on Monday, May 18th. Truist Financial lowered shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group lowered their price objective on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Gemini Space Station has a consensus rating of “Hold” and a consensus target price of $12.52.

Gemini Space Station Trading Up 7.8%

Shares of GEMI stock opened at $4.66 on Friday. The firm has a market capitalization of $555.41 million and a PE ratio of -1.18. The firm has a fifty day simple moving average of $4.76 and a two-hundred day simple moving average of $7.46. Gemini Space Station, Inc. has a 12 month low of $3.91 and a 12 month high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The business had revenue of $50.27 million for the quarter. The business’s quarterly revenue was up 38.3% on a year-over-year basis. On average, equities analysts predict that Gemini Space Station, Inc. will post -3.56 earnings per share for the current fiscal year.

About Gemini Space Station

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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.