Gemini Space Station (NASDAQ:GEMI) Announces Earnings Results, Misses Estimates By $0.18 EPS

Gemini Space Station (NASDAQ:GEMI) issued its quarterly earnings results on Thursday. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.18), FiscalAI reports. The company had revenue of $45.48 million for the quarter.

Gemini Space Station Stock Up 3.1%

NASDAQ:GEMI traded up $0.13 during trading hours on Thursday, hitting $4.30. 2,331,063 shares of the stock traded hands, compared to its average volume of 1,778,224. Gemini Space Station has a 1 year low of $3.74 and a 1 year high of $45.89. The company has a market cap of $512.95 million and a price-to-earnings ratio of -1.09. The stock has a 50 day moving average price of $4.36 and a 200 day moving average price of $5.40.

Institutional Trading of Gemini Space Station

Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Bank of Australia bought a new position in Gemini Space Station in the 4th quarter worth $7,086,000. SBI Securities Co. Ltd. lifted its position in shares of Gemini Space Station by 362.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock valued at $99,000 after acquiring an additional 7,781 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Gemini Space Station in the fourth quarter worth about $174,000. Invesco Ltd. purchased a new stake in shares of Gemini Space Station during the fourth quarter worth about $173,000. Finally, Quadrature Capital Ltd bought a new stake in Gemini Space Station during the 4th quarter valued at approximately $160,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GEMI shares. Rosenblatt Securities reissued a “buy” rating and issued a $9.00 price target on shares of Gemini Space Station in a research report on Monday, May 18th. Morgan Stanley reduced their price objective on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Friday, July 10th. 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 report on Tuesday, April 28th. Truist Financial cut their target price on Gemini Space Station from $5.00 to $4.50 and set a “hold” rating on the stock in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.09.

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.