Gemini Space Station (NASDAQ:GEMI) Shares Gap Up – Still a Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares gapped up prior to trading on Thursday . The stock had previously closed at $11.36, but opened at $12.82. Gemini Space Station shares last traded at $12.79, with a volume of 2,989,838 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEMI. Wall Street Zen downgraded shares of Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Needham & Company LLC decreased their price target on shares of Gemini Space Station from $42.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. The Goldman Sachs Group decreased their price objective on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Keefe, Bruyette & Woods began coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They set a “market perform” rating and a $27.00 price objective on the stock. Finally, Rosenblatt Securities began coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.55.

Gemini Space Station Trading Down 11.8%

The business has a fifty day moving average price of $16.13.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Monday, November 10th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The firm 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

Institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in shares of Gemini Space Station in the 3rd quarter worth approximately $51,000. National Bank of Canada FI bought a new position in Gemini Space Station in the third quarter worth about $123,000. Man Group plc bought a new position in Gemini Space Station in the third quarter worth about $201,000. Sandia Investment Management LP purchased a new stake in Gemini Space Station in the third quarter worth about $228,000. Finally, Ground Swell Capital LLC bought a new stake in Gemini Space Station during the 3rd quarter valued at approximately $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.