Gemini Space Station (NASDAQ:GEMI) Stock Price Down 5.9% – Time to Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares fell 5.9% on Wednesday . The company traded as low as $10.99 and last traded at $11.09. 447,869 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,418,766 shares. The stock had previously closed at $11.78.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They set a “market perform” rating and a $27.00 target price on the stock. Truist Financial cut their price target on Gemini Space Station from $28.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gemini Space Station in a research note on Thursday, December 11th. Evercore ISI cut their target price on shares of Gemini Space Station from $30.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. Finally, Mizuho decreased their price target on shares of Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, December 24th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.45.

Gemini Space Station Price Performance

The stock has a market cap of $1.30 billion and a P/E ratio of -6.13. The firm has a 50-day simple moving average of $12.12.

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

Institutional Trading of Gemini Space Station

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in Gemini Space Station during the third quarter worth $51,000. National Bank of Canada FI bought a new position in shares of Gemini Space Station during the 3rd quarter worth about $123,000. Man Group plc acquired a new stake in shares of Gemini Space Station in the 3rd quarter valued at about $201,000. Sandia Investment Management LP bought a new stake in Gemini Space Station in the 3rd quarter valued at about $228,000. Finally, Ground Swell Capital LLC bought a new position in Gemini Space Station in the third quarter worth approximately $229,000.

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.