Gemini Space Station (NASDAQ:GEMI) Trading 7.5% Higher – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) rose 7.5% on Wednesday . The stock traded as high as $4.60 and last traded at $4.6650. 171,802 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,867,318 shares. The stock had previously closed at $4.34.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings raised Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Mizuho dropped their target price on Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, March 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $9.00 target price on shares of Gemini Space Station in a research report on Monday, May 18th. Morgan Stanley decreased their price target on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, July 10th. Finally, The Goldman Sachs Group lowered their price target on Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.48.

Gemini Space Station Trading Down 2.6%

The stock’s 50-day simple moving average is $4.69 and its 200-day simple moving average is $6.25. The firm has a market capitalization of $542.77 million and a P/E ratio of -1.15.

Gemini Space Station (NASDAQ:GEMI) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.93) 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. Gemini Space Station’s revenue was up 38.3% on a year-over-year basis. On average, equities research analysts expect that Gemini Space Station, Inc. will post -3.37 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GEMI. National Bank of Canada FI bought a new position in Gemini Space Station in the 3rd quarter valued at $123,000. SBI Securities Co. Ltd. raised its stake in shares of Gemini Space Station by 362.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock worth $99,000 after purchasing an additional 7,781 shares during the period. Man Group plc purchased a new position in shares of Gemini Space Station in the 3rd quarter worth about $201,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Gemini Space Station in the 4th quarter worth about $88,000. Finally, Sandia Investment Management LP bought a new position in Gemini Space Station during the third quarter valued at about $228,000.

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.