Gemini Space Station (NASDAQ:GEMI) Trading Down 7% – Should You Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price dropped 7% on Tuesday . The company traded as low as $4.49 and last traded at $4.4750. Approximately 519,003 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,919,137 shares. The stock had previously closed at $4.81.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEMI. Truist Financial cut their price objective on Gemini Space Station from $5.00 to $4.50 and set a “hold” rating for the company in a research report on Friday, July 24th. Weiss Ratings lowered shares of Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. The Goldman Sachs Group upped their price target on shares of Gemini Space Station from $3.50 to $4.00 and gave the stock a “sell” rating in a research note on Wednesday, September 9th. Morgan Stanley dropped their target price on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, July 10th. Finally, Wall Street Zen cut Gemini Space Station from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Gemini Space Station has a consensus rating of “Hold” and an average price target of $10.84.

Gemini Space Station Stock Performance

The firm has a market capitalization of $541.94 million and a PE ratio of -0.43. The firm’s 50-day moving average is $4.30 and its 200 day moving average is $4.87.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share 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 net margin of 250.13% and a negative return on equity of 75.66%. As a group, equities analysts anticipate that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ParaFi Capital LP lifted its stake in Gemini Space Station by 430.7% in the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock valued at $14,607,000 after buying an additional 2,782,786 shares in the last quarter. Commonwealth Bank of Australia purchased a new position in Gemini Space Station during the fourth quarter worth $7,086,000. Gryphon Financial Partners LLC acquired a new position in shares of Gemini Space Station in the first quarter worth $145,000. WINTON GROUP Ltd acquired a new position in shares of Gemini Space Station in the second quarter worth $130,000. Finally, Clear Street Group Inc. purchased a new stake in shares of Gemini Space Station in the fourth quarter valued at $219,000.

About Gemini Space Station

Gemini Space Station, Inc, doing business as Gemini, is a cryptocurrency platform that provides digital-asset trading, custody and related financial services to retail and institutional customers. Its platform enables users to buy, sell, store and transfer cryptocurrencies and access market data and portfolio-management tools.

The company has also offered institutional services, including custody, execution and clearing solutions, as well as products designed to support staking and other digital-asset activities.