Gemini Space Station (NASDAQ:GEMI) Stock Price Down 11.1% – Time to Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price fell 11.1% on Thursday . The stock traded as low as $7.70 and last traded at $7.6780. 594,994 shares were traded during mid-day trading, a decline of 62% from the average session volume of 1,568,029 shares. The stock had previously closed at $8.64.

Analyst Ratings Changes

Several analysts have commented on the company. Evercore lowered Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 price objective on the stock. in a report on Friday, February 6th. The Goldman Sachs Group decreased their target price 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. Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a research note on Monday, December 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $8.00 price objective (down from $14.00) on shares of Gemini Space Station in a report on Wednesday, February 18th. Finally, Truist Financial lowered shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research report on Tuesday, February 17th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.68.

Gemini Space Station Stock Performance

The firm has a fifty day simple moving average of $8.54. The firm has a market capitalization of $931.91 million and a price-to-earnings ratio of -4.38.

Institutional Investors Weigh In On Gemini Space Station

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP purchased a new stake in Gemini Space Station in the 3rd quarter valued at $647,000. Alpine Global Management LLC purchased a new position in shares of Gemini Space Station during the 3rd quarter worth $240,000. North Reef Capital Management LP purchased a new position in shares of Gemini Space Station during the 3rd quarter worth $5,878,000. Dragoneer Investment Group LLC acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $38,815,000. Finally, Altimeter Capital Management LP acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $38,336,000.

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.