Gemini Space Station (NASDAQ:GEMI) Trading 11.7% Higher – What’s Next?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price traded up 11.7% during mid-day trading on Thursday . The stock traded as high as $4.49 and last traded at $5.0050. 500,954 shares were traded during trading, a decline of 70% from the average session volume of 1,680,793 shares. The stock had previously closed at $4.48.

Analyst Ratings Changes

GEMI has been the subject of a number of research reports. Needham & Company LLC lowered their target price on Gemini Space Station from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Morgan Stanley dropped their price target on Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, December 22nd. Rosenblatt Securities dropped their target price on Gemini Space Station from $11.50 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. Truist Financial lowered Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research report on Tuesday, February 17th. Finally, The Goldman Sachs Group reduced their price target on Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.30.

Gemini Space Station Price Performance

The company has a market cap of $558.84 million and a PE ratio of -1.58. The company has a 50-day moving average of $6.52 and a 200 day moving average of $11.89.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The business had revenue of $60.34 million for the quarter.

Insider Activity

In other news, Director Sachin Chand Jaitly sold 39,708 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total transaction of $354,195.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Gemini Space Station

Several hedge funds have recently added to or reduced their stakes in GEMI. Dragoneer Investment Group LLC purchased a new stake in Gemini Space Station in the third quarter valued at $38,815,000. Altimeter Capital Management LP purchased a new stake in Gemini Space Station in the third quarter valued at $38,336,000. UBS Group AG purchased a new stake in Gemini Space Station in the third quarter valued at $31,994,000. Vanguard Group Inc. purchased a new stake in Gemini Space Station in the third quarter valued at $25,656,000. Finally, Commonwealth Bank of Australia purchased a new stake in Gemini Space Station in the fourth quarter valued at $7,086,000.

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.