Gemini Space Station (NASDAQ:GEMI) Trading Down 6.3% – Time to Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price traded down 6.3% during mid-day trading on Tuesday . The company traded as low as $9.00 and last traded at $9.03. 1,501,884 shares traded hands during trading, an increase of 10% from the average session volume of 1,367,059 shares. The stock had previously closed at $9.64.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GEMI shares. Truist Financial reduced their price objective on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Zacks Research upgraded shares of Gemini Space Station to a “hold” rating in a research report on Wednesday, October 8th. Rosenblatt Securities began coverage on Gemini Space Station in a report on Tuesday, October 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Keefe, Bruyette & Woods began coverage on Gemini Space Station in a report on Tuesday, October 7th. They set a “market perform” rating and a $27.00 target price for the company. Finally, Barclays assumed coverage on Gemini Space Station in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $41.00 price target on the stock. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.45.

Gemini Space Station Price Performance

The company has a market cap of $1.08 billion and a P/E ratio of -5.06. The business’s fifty day simple moving average is $10.96.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The company had revenue of $50.62 million for the quarter, compared to analysts’ expectations of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of Gemini Space Station in the third quarter valued at approximately $51,000. National Bank of Canada FI acquired a new stake in shares of Gemini Space Station in the third quarter valued at $123,000. Man Group plc acquired a new position in Gemini Space Station during the 3rd quarter worth $201,000. Sandia Investment Management LP purchased a new stake in Gemini Space Station during the 3rd quarter worth about $228,000. Finally, Ground Swell Capital LLC purchased a new stake in Gemini Space Station during the 3rd quarter worth about $229,000.

Gemini Space Station Company Profile

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.