North Reef Capital Management LP Sells 250,262 Shares of Gemini Space Station, Inc. $GEMI

North Reef Capital Management LP lowered its position in shares of Gemini Space Station, Inc. (NASDAQ:GEMI) by 83.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,738 shares of the company’s stock after selling 250,262 shares during the period. North Reef Capital Management LP’s holdings in Gemini Space Station were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GEMI. Vanguard Group Inc. bought a new position in Gemini Space Station in the third quarter valued at about $25,656,000. Van ECK Associates Corp bought a new stake in shares of Gemini Space Station during the third quarter worth about $9,328,000. Franklin Resources Inc. acquired a new position in shares of Gemini Space Station in the third quarter valued at approximately $2,963,000. UBS Group AG acquired a new position in shares of Gemini Space Station in the third quarter valued at approximately $31,994,000. Finally, Squarepoint Ops LLC bought a new position in Gemini Space Station in the 3rd quarter valued at approximately $9,547,000.

Wall Street Analyst Weigh In

Several research firms recently commented on GEMI. Morgan Stanley cut their target price on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Citigroup dropped their price target 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. Weiss Ratings upgraded shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. The Goldman Sachs Group reduced 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 note on Wednesday, April 8th. Finally, Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a report on Monday, June 15th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.25.

Gemini Space Station Stock Performance

NASDAQ:GEMI opened at $4.29 on Friday. The company has a market capitalization of $511.75 million and a PE ratio of -1.08. The company has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $6.04. Gemini Space Station, Inc. has a fifty-two week low of $3.83 and a fifty-two week high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The business had revenue of $50.27 million for the quarter. The company’s quarterly revenue was up 38.3% on a year-over-year basis. Research analysts predict that Gemini Space Station, Inc. will post -3.37 EPS for the current 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.