Gemini Space Station (NASDAQ:GEMI) Trading Down 5.3% – Here’s What Happened

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price dropped 5.3% on Friday . The stock traded as low as $4.18 and last traded at $4.3110. Approximately 288,197 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,858,121 shares. The stock had previously closed at $4.55.

Analyst Upgrades and Downgrades

GEMI has been the subject of several research analyst reports. Morgan Stanley reduced their price target on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Friday, July 10th. 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 on the stock in a research report on Wednesday, April 8th. Weiss Ratings upgraded Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Citigroup decreased their target price on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating for the company in a research report on Tuesday, April 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price target on shares of Gemini Space Station in a report on Monday, May 18th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.48.

Gemini Space Station Stock Down 7.9%

The firm has a market capitalization of $499.83 million and a PE ratio of -1.06. The business’s 50-day moving average price is $4.67 and its 200-day moving average price is $6.23.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The company had revenue of $50.27 million for the quarter. The company’s revenue was up 38.3% compared to the same quarter last year. On average, analysts anticipate that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

Several institutional investors and hedge funds have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in shares of Gemini Space Station in the third quarter worth $123,000. Man Group plc acquired a new stake in Gemini Space Station during the third quarter valued at $201,000. Caitong International Asset Management Co. Ltd acquired a new stake in Gemini Space Station during the fourth quarter valued at $88,000. Sandia Investment Management LP purchased a new position in Gemini Space Station in the third quarter valued at about $228,000. Finally, SBI Securities Co. Ltd. grew its stake in Gemini Space Station by 362.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock valued at $99,000 after purchasing an additional 7,781 shares in the last quarter.

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