Gemini Space Station (NASDAQ:GEMI) Sees Strong Trading Volume – Time to Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares saw unusually-strong trading volume on Friday . 1,424,191 shares were traded during trading, a decline of 22% from the previous session’s volume of 1,829,258 shares.The stock last traded at $4.60 and had previously closed at $4.14.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GEMI shares. Needham & Company LLC cut their price objective on shares of Gemini Space Station from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Monday. Wall Street Zen lowered shares of Gemini Space Station from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Morgan Stanley lowered 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 research note on Friday, July 10th. Cantor Fitzgerald cut their price target on Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Monday. Finally, Mizuho set a $7.00 price target on Gemini Space Station in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.79.

Gemini Space Station Stock Up 8.7%

The company has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $5.18. The company has a market capitalization of $536.80 million and a price-to-earnings ratio of -0.46.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.18). Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%.The business had revenue of $45.48 million for the quarter. On average, research analysts forecast that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Gemini Space Station

Hedge funds and other institutional investors have recently bought and sold shares of the business. Apollon Wealth Management LLC bought a new stake in shares of Gemini Space Station in the first quarter worth $44,000. Caitong International Asset Management Co. Ltd bought a new position in Gemini Space Station during the 4th quarter valued at $88,000. SBI Securities Co. Ltd. grew its holdings 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 acquiring an additional 7,781 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Gemini Space Station during the 4th quarter worth $100,000. Finally, National Bank of Canada FI bought a new stake in shares of Gemini Space Station in the 3rd quarter worth about $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.