Gemini Space Station (NASDAQ:GEMI) Sets New 1-Year Low – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) shares reached a new 52-week low on Monday . The stock traded as low as $7.66 and last traded at $7.84, with a volume of 446170 shares traded. The stock had previously closed at $8.34.

Analyst Ratings Changes

Several equities research analysts have commented on the company. The Goldman Sachs Group cut their price objective on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Truist Financial lowered their price target on Gemini Space Station from $28.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Zacks Research upgraded Gemini Space Station to a “hold” rating in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of 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. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.45.

Gemini Space Station Stock Performance

The company has a market capitalization of $863.55 million and a P/E ratio of -4.06. The stock’s 50-day moving average price is $10.57.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings results 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 firm had revenue of $50.62 million for the quarter, compared to analyst estimates of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its stake 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. Hudson Bay Capital Management LP purchased a new stake in Gemini Space Station during the third quarter worth about $647,000. Alpine Global Management LLC acquired a new stake in shares of Gemini Space Station during the third quarter worth about $240,000. Woodline Partners LP purchased a new stake in Gemini Space Station during the 3rd quarter worth approximately $3,832,000. Finally, Zimmer Partners LP acquired a new stake in Gemini Space Station during the 3rd quarter worth approximately $599,000.

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.