Gemini Space Station (NASDAQ:GEMI) Shares Down 7.1% – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) traded down 7.1% on Tuesday . The stock traded as low as $4.93 and last traded at $4.99. 1,271,302 shares traded hands during trading, a decline of 33% from the average session volume of 1,908,341 shares. The stock had previously closed at $5.37.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price objective on shares of Gemini Space Station in a research report on Monday. Morgan Stanley lowered their price objective on shares of Gemini Space Station from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $8.00 price objective (down from $14.00) on shares of Gemini Space Station in a research report on Wednesday, February 18th. Finally, Citigroup lowered their price objective on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a research report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.52.

Gemini Space Station Stock Down 6.2%

The firm has a market capitalization of $604.63 million and a price-to-earnings ratio of -1.66. The stock’s 50 day moving average price is $5.35 and its two-hundred day moving average price is $8.71.

Gemini Space Station (NASDAQ:GEMI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The firm had revenue of $50.27 million for the quarter. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities analysts expect that Gemini Space Station, Inc. will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling at Gemini Space Station

In related news, Director Sachin Chand Jaitly sold 39,708 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total value of $354,195.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in Gemini Space Station during the third quarter worth $51,000. National Bank of Canada FI bought a new stake in shares of Gemini Space Station during the 3rd quarter worth $123,000. Man Group plc bought a new stake in shares of Gemini Space Station during the 3rd quarter worth $201,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gemini Space Station during the 4th quarter worth $88,000. Finally, Sandia Investment Management LP bought a new stake in shares of Gemini Space Station during the 3rd quarter worth $228,000.

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.