Gemini Space Station (NASDAQ:GEMI) Stock Price Down 5.1% – Here’s Why

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) fell 5.1% on Friday . The company traded as low as $4.43 and last traded at $4.47. Approximately 278,449 shares traded hands during trading, a decline of 85% from the average daily volume of 1,918,764 shares. The stock had previously closed at $4.71.

Analyst Upgrades and Downgrades

GEMI has been the subject of several research reports. Citigroup cut their price target on Gemini Space Station from $4.00 to $3.20 and set a “sell” rating for the company in a report on Thursday, August 20th. Weiss Ratings downgraded shares of Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Cantor Fitzgerald dropped their price objective on shares of Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, August 17th. Truist Financial cut their target price on shares of Gemini Space Station from $5.00 to $4.50 and set a “hold” rating for the company in a research note on Friday, July 24th. Finally, Mizuho set a $7.00 target price on shares of Gemini Space Station in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.79.

Gemini Space Station Price Performance

The business’s 50-day moving average is $4.26 and its 200 day moving average is $5.08. The firm has a market capitalization of $565.27 million and a P/E ratio of -0.45.

Gemini Space Station (NASDAQ:GEMI) last announced its earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate 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%. Analysts anticipate that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.