Gemini Space Station (NASDAQ:GEMI) Reaches New 1-Year Low – Here’s What Happened

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) reached a new 52-week low on Wednesday . The company traded as low as $6.66 and last traded at $6.68, with a volume of 1210773 shares. The stock had previously closed at $7.29.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Mizuho dropped their target price on shares of Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 24th. Truist Financial decreased their price objective on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Morgan Stanley decreased their price objective on shares of 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 cut their target price on Gemini Space Station from $25.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, January 29th. Finally, Evercore downgraded Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 target price for the company. in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.08.

Gemini Space Station Stock Down 8.4%

The company has a market cap of $785.93 million and a P/E ratio of -3.69. The firm’s 50 day moving average is $10.33.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly 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 company had revenue of $50.62 million during the quarter, compared to analysts’ expectations of $45.87 million.

Hedge Funds Weigh In On Gemini Space Station

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Gemini Space Station during the third quarter worth about $325,000. Wealth Enhancement Advisory Services LLC bought a new position in Gemini Space Station during the 3rd quarter worth $248,000. SBI Securities Co. Ltd. acquired a new stake in shares of Gemini Space Station in the third quarter valued at approximately $51,000. Ground Swell Capital LLC bought a new stake in shares of Gemini Space Station during the third quarter valued at about $229,000. Finally, Vanguard Group Inc. acquired a new position in shares of Gemini Space Station during the third quarter valued at approximately $25,656,000.

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.