Gemini Space Station (NASDAQ:GEMI) Trading Down 6.3% – Time to Sell?

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) were down 6.3% on Tuesday . The company traded as low as $9.00 and last traded at $9.03. Approximately 1,501,884 shares were traded during trading, an increase of 10% from the average daily volume of 1,367,059 shares. The stock had previously closed at $9.64.

Analyst Ratings Changes

A number of equities analysts recently commented on GEMI shares. Citigroup lowered their target price on shares of Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Needham & Company LLC cut their price target on shares of Gemini Space Station from $35.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, December 29th. The Goldman Sachs Group decreased their price objective on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gemini Space Station in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.45.

Gemini Space Station Price Performance

The firm has a market capitalization of $1.08 billion and a P/E ratio of -5.06. The stock has a 50-day simple moving average of $10.96.

Gemini Space Station (NASDAQ:GEMI) last announced its earnings results on Monday, November 10th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The firm had revenue of $50.62 million for the quarter, compared to analyst estimates of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

Several institutional investors have recently made changes to their positions in GEMI. SBI Securities Co. Ltd. acquired a new stake in shares of Gemini Space Station during the 3rd quarter valued at approximately $51,000. National Bank of Canada FI acquired a new position in Gemini Space Station during the third quarter worth $123,000. Man Group plc acquired a new stake in Gemini Space Station in the third quarter valued at $201,000. Sandia Investment Management LP purchased a new position in shares of Gemini Space Station in the third quarter valued at $228,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Gemini Space Station during the 3rd quarter worth $229,000.

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.