Gemini Space Station (NASDAQ:GEMI) Shares Up 10.4% – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price shot up 10.4% during trading on Friday . The stock traded as high as $7.57 and last traded at $7.40. 343,399 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,498,537 shares. The stock had previously closed at $6.70.

Key Headlines Impacting Gemini Space Station

Here are the key news stories impacting Gemini Space Station this week:

• Positive Sentiment: Management announced a broad restructuring to cut about 25% of staff and exit the U.K., EU and Australia to focus on the U.S. and prediction markets — a move that should reduce burn and extend runway if executed cleanly. Yahoo: Gemini Slashes Staff, Exits Europe Amid Crypto Downturn
• Neutral Sentiment: Evercore ISI downgraded GEMI from “outperform” to “in-line” but set a $10 price target (still above current levels), signaling mixed analyst views — a rating cut that tempers enthusiasm but leaves upside per the new PT. Finviz: Evercore downgrade
• Negative Sentiment: Widespread media coverage frames the cuts and regional exits as a retreat driven by the crypto downturn; headlines and reports from multiple outlets are likely weighing on sentiment and could pressure near-term trading. Reuters: Gemini plans cut 200 jobs
• Negative Sentiment: Other outlets report the firm will shutter accounts/operations in Australia and scale down globally — steps that reduce addressable revenue in the near term and increase execution risk around the strategic refocus. MSN: Gemini to cut jobs, scale down
• Negative Sentiment: At least one aggregated report notes a lowered price target for GEMI (an ~11% cut to $20.45), adding to downward pressure from analysts trimming forecasts amid weaker crypto market conditions. MSN: price target decreased

Wall Street Analyst Weigh In

GEMI has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating for the company in a research note on Monday, December 22nd. Cantor Fitzgerald decreased their price objective on Gemini Space Station from $25.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Citigroup lowered their target price on 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. The Goldman Sachs Group cut their price target on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Evercore ISI downgraded shares of Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 price objective for the company. in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Gemini Space Station presently has an average rating of “Hold” and a consensus target price of $21.00.

Gemini Space Station Stock Performance

The company has a market capitalization of $900.02 million and a P/E ratio of -4.23. The company’s fifty day moving average is $10.49.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GEMI. Dragoneer Investment Group LLC bought a new stake in shares of Gemini Space Station in the third quarter valued at approximately $38,815,000. Altimeter Capital Management LP bought a new stake in Gemini Space Station during the third quarter worth about $38,336,000. UBS Group AG acquired a new stake in Gemini Space Station during the third quarter worth about $31,994,000. Vanguard Group Inc. bought a new position in Gemini Space Station in the 3rd quarter valued at about $25,656,000. Finally, Squarepoint Ops LLC bought a new position in 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.