Gemini Space Station (NASDAQ:GEMI) Trading Up 9.3% – Time to Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI) traded up 9.3% during trading on Wednesday . The company traded as high as $4.68 and last traded at $4.6550. Approximately 927,262 shares changed hands during trading, a decline of 52% from the average daily volume of 1,919,632 shares. The stock had previously closed at $4.26.

Analysts Set New Price Targets

GEMI has been the subject of several analyst reports. Needham & Company LLC decreased their target price on shares of Gemini Space Station from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Citigroup dropped their target price on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a research report on Tuesday, April 28th. Morgan Stanley cut their price target on Gemini Space Station from $13.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. The Goldman Sachs Group reduced their price target on Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Finally, Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.52.

Gemini Space Station Price Performance

The firm has a market capitalization of $504.60 million and a PE ratio of -1.07. The company’s fifty day simple moving average is $4.73 and its 200-day simple moving average is $6.74.

Gemini Space Station (NASDAQ:GEMI) last released its earnings results on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The firm had revenue of $50.27 million for the quarter. The business’s revenue was up 38.3% compared to the same quarter last year. Analysts forecast that Gemini Space Station, Inc. will post -3.56 earnings per share for the current year.

Hedge Funds Weigh In On Gemini Space Station

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC purchased a new stake in shares of Gemini Space Station during the first quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd purchased a new position in Gemini Space Station in the 4th quarter valued at $88,000. SBI Securities Co. Ltd. boosted its stake in Gemini Space Station by 362.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock worth $99,000 after purchasing an additional 7,781 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Gemini Space Station during the 4th quarter worth $100,000. Finally, National Bank of Canada FI purchased a new stake in shares of Gemini Space Station during the third quarter worth $123,000.

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.