Gemini Space Station, Inc.’s (NASDAQ:GEMI) Lock-Up Period To Expire on March 11th

Gemini Space Station’s (NASDAQ:GEMI) lock-up period is set to expire on Wednesday, March 11th. Gemini Space Station had issued 15,178,572 shares in its IPO on September 12th. The total size of the offering was $425,000,016 based on an initial share price of $28.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

Several brokerages recently issued reports on GEMI. Mizuho cut their price target on Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, December 24th. Rosenblatt Securities cut their target price on Gemini Space Station from $26.00 to $11.50 and set a “buy” rating for the company in a research report on Friday, February 20th. The Goldman Sachs Group decreased their price target on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Morgan Stanley dropped their price target 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. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $8.00 price objective (down from $14.00) on shares of Gemini Space Station in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.68.

Gemini Space Station Trading Up 6.4%

Shares of GEMI stock opened at $9.25 on Friday. The stock’s fifty day simple moving average is $8.65. The company has a market cap of $1.09 billion and a P/E ratio of -5.11. Gemini Space Station has a twelve month low of $5.57 and a twelve month high of $45.89.

Hedge Funds Weigh In On Gemini Space Station

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEMI. Dragoneer Investment Group LLC bought a new position in shares of Gemini Space Station in the 3rd quarter valued at $38,815,000. Altimeter Capital Management LP bought a new position in Gemini Space Station in the third quarter valued at about $38,336,000. UBS Group AG acquired a new stake in shares of Gemini Space Station during the third quarter valued at about $31,994,000. Vanguard Group Inc. bought a new stake in shares of Gemini Space Station during the third quarter worth about $25,656,000. Finally, Commonwealth Bank of Australia acquired a new position in shares of Gemini Space Station in the fourth quarter valued at approximately $7,086,000.

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.