Gemini Space Station (NASDAQ:GEMI) Trading 5.8% Higher – Still a Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares rose 5.8% during trading on Wednesday . The company traded as high as $11.09 and last traded at $11.07. Approximately 250,888 shares changed hands during trading, a decline of 82% from the average daily volume of 1,392,132 shares. The stock had previously closed at $10.46.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GEMI shares. Morgan Stanley cut their price objective on Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, December 22nd. Wall Street Zen cut shares of Gemini Space Station from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a research report on Monday, December 29th. Barclays started coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $41.00 target price for the company. Finally, The Goldman Sachs Group cut their target price on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.45.

Gemini Space Station Stock Up 5.0%

The stock has a market cap of $1.29 billion and a P/E ratio of -6.07. The company’s 50-day moving average is $11.70.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The business had revenue of $50.62 million during the quarter, compared to analyst estimates of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

Hedge funds have recently bought and sold shares of the business. Dragoneer Investment Group LLC bought a new position in shares of Gemini Space Station during the third quarter valued at approximately $38,815,000. Altimeter Capital Management LP bought a new stake in shares of Gemini Space Station in the 3rd quarter worth approximately $38,336,000. UBS Group AG purchased a new stake in shares of Gemini Space Station in the 3rd quarter worth approximately $31,994,000. Vanguard Group Inc. purchased a new stake in shares of Gemini Space Station in the 3rd quarter worth approximately $25,656,000. Finally, Squarepoint Ops LLC bought a new position in Gemini Space Station during the 3rd quarter valued at approximately $9,547,000.

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.