Gemini Space Station (NASDAQ:GEMI) Shares Down 11.1% – Should You Sell?

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) fell 11.1% during trading on Thursday . The company traded as low as $7.70 and last traded at $7.6780. 594,994 shares changed hands 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.

Wall Street Analyst Weigh In

GEMI has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of 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. Citigroup reduced their target price on Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Mizuho lowered their price target on Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, December 24th. Rosenblatt Securities cut their price objective on Gemini Space Station from $26.00 to $11.50 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $8.00 price objective (down from $14.00) on shares of Gemini Space Station in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Gemini Space Station has an average rating of “Hold” and an average price target of $16.68.

Gemini Space Station Trading Down 8.3%

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

Institutional Investors Weigh In On Gemini Space Station

A number of hedge funds and other institutional investors have recently made changes to their positions in GEMI. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gemini Space Station in the 4th quarter valued at $88,000. Aristides Capital LLC purchased a new position in Gemini Space Station in the fourth quarter valued at $164,000. Invesco Ltd. acquired a new position in shares of Gemini Space Station in the fourth quarter worth about $173,000. Quadrature Capital Ltd purchased a new stake in shares of Gemini Space Station during the 4th quarter worth about $160,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Gemini Space Station during the 4th quarter worth about $100,000.

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.