Gemini Space Station (NASDAQ:GEMI) Trading Up 9.3% – Here’s What Happened

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) traded up 9.3% during trading on Wednesday . The company traded as high as $4.68 and last traded at $4.6550. Approximately 927,262 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,919,632 shares. The stock had previously closed at $4.26.

Analysts Set New Price Targets

Several research firms have recently weighed in on GEMI. Mizuho lowered their price objective on shares of Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. The Goldman Sachs Group cut their target price 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. Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Monday, June 15th. Weiss Ratings upgraded Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Finally, Morgan Stanley cut their price objective on Gemini Space Station from $13.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Three research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.52.

Gemini Space Station Stock Up 4.8%

The business has a fifty day moving average price of $4.74 and a 200-day moving average price of $6.88. The company has a market cap of $532.63 million and a P/E ratio of -1.13.

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

Hedge Funds Weigh In On Gemini Space Station

Several institutional investors and hedge funds have recently modified their holdings of GEMI. Dragoneer Investment Group LLC acquired a new stake in Gemini Space Station during the third quarter worth approximately $38,815,000. North Reef Capital Management LP bought a new stake in shares of Gemini Space Station during the 3rd quarter valued at $5,878,000. Altimeter Capital Management LP bought a new stake in shares of Gemini Space Station during the 3rd quarter valued at $38,336,000. Commonwealth Bank of Australia acquired a new stake in shares of Gemini Space Station during the 4th quarter worth $7,086,000. Finally, Atreides Management LP bought a new position in shares of Gemini Space Station in the third quarter worth $1,677,000.

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.