Gemini Space Station (NASDAQ:GEMI) Shares Gap Up – Here’s What Happened

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) gapped up prior to trading on Thursday . The stock had previously closed at $3.93, but opened at $4.13. Gemini Space Station shares last traded at $4.2140, with a volume of 2,153,407 shares traded.

Analysts Set New Price Targets

GEMI has been the topic of a number of recent research reports. Mizuho set a $7.00 price objective on Gemini Space Station in a research report on Monday. Needham & Company LLC cut their price target on Gemini Space Station from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday. Truist Financial decreased their price target on Gemini Space Station from $5.00 to $4.50 and set a “hold” rating on the stock in a report on Friday, July 24th. Cantor Fitzgerald lowered their price objective on Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Wall Street Zen cut Gemini Space Station from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Gemini Space Station currently has an average rating of “Hold” and a consensus price target of $10.86.

Gemini Space Station Stock Up 2.8%

The firm has a market capitalization of $481.93 million and a price-to-earnings ratio of -0.42. The company’s fifty day moving average is $4.30 and its two-hundred day moving average is $5.21.

Gemini Space Station (NASDAQ:GEMI) last released its earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.18). The business had revenue of $45.48 million for the quarter. Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%. On average, equities research analysts expect that Gemini Space Station, Inc. will post -3.37 EPS for the current year.

Institutional Investors Weigh In On Gemini Space Station

A number of institutional investors have recently made changes to their positions in the stock. UBS Group AG bought a new stake in Gemini Space Station in the third quarter valued at about $31,994,000. Vanguard Group Inc. acquired a new position in shares of Gemini Space Station during the 3rd quarter worth about $25,656,000. Commonwealth Bank of Australia acquired a new position in shares of Gemini Space Station during the 4th quarter worth about $7,086,000. Geode Capital Management LLC increased its stake in shares of Gemini Space Station by 1,220.7% in the 4th quarter. Geode Capital Management LLC now owns 484,571 shares of the company’s stock valued at $4,808,000 after acquiring an additional 447,881 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at about $9,547,000.

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.