Gemini Space Station (NASDAQ:GEMI) Shares Down 7.1% – Here’s Why

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) dropped 7.1% during mid-day trading on Tuesday . The company traded as low as $4.93 and last traded at $4.99. Approximately 1,271,302 shares traded hands during trading, a decline of 33% from the average daily volume of 1,908,341 shares. The stock had previously closed at $5.37.

Analyst Ratings Changes

GEMI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Gemini Space Station from a “strong sell” rating to a “hold” rating in a report on Saturday. Evercore cut shares of Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 price target for the company. in a report on Friday, February 6th. Rosenblatt Securities restated a “buy” rating and set a $9.00 price target on shares of Gemini Space Station in a report on Monday. Mizuho decreased their price target on shares of Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, March 23rd. Finally, Truist Financial cut shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Tuesday, February 17th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.52.

Gemini Space Station Price Performance

The company’s 50 day moving average is $5.35 and its two-hundred day moving average is $8.71. The firm has a market cap of $604.63 million and a P/E ratio of -1.66.

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

Insider Buying and Selling at Gemini Space Station

In related news, Director Sachin Chand Jaitly sold 39,708 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total value of $354,195.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Gemini Space Station

Several hedge funds have recently made changes to their positions in GEMI. SG Americas Securities LLC bought a new stake in shares of Gemini Space Station in the third quarter valued at about $325,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Gemini Space Station in the third quarter valued at about $248,000. SBI Securities Co. Ltd. bought a new stake in shares of Gemini Space Station in the third quarter valued at about $51,000. Ground Swell Capital LLC bought a new stake in shares of Gemini Space Station in the third quarter valued at about $229,000. Finally, Vanguard Group Inc. acquired a new position in Gemini Space Station in the third quarter worth about $25,656,000.

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