Gemini Space Station (NASDAQ:GEMI) Shares Down 6.3% – Should You Sell?

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) dropped 6.3% on Tuesday . The company traded as low as $9.00 and last traded at $9.03. Approximately 1,501,884 shares were traded during trading, an increase of 10% from the average daily volume of 1,367,059 shares. The stock had previously closed at $9.64.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup lowered their target price on Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Cantor Fitzgerald decreased their price objective on Gemini Space Station from $25.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday. Wall Street Zen cut shares of Gemini Space Station from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. The Goldman Sachs Group decreased their price target on shares of 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a research report on Monday, December 29th. Six equities 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 company’s stock. According to data from MarketBeat.com, Gemini Space Station has a consensus rating of “Hold” and an average price target of $21.45.

Gemini Space Station Trading Down 9.3%

The stock has a 50 day moving average price of $10.81. The stock has a market cap of $972.97 million and a P/E ratio of -4.57.

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

Institutional Trading of Gemini Space Station

Several institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP purchased a new position in shares of Gemini Space Station in the third quarter worth $647,000. Alpine Global Management LLC bought a new stake in Gemini Space Station in the 3rd quarter worth about $240,000. Woodline Partners LP purchased a new position in Gemini Space Station in the 3rd quarter worth about $3,832,000. Zimmer Partners LP bought a new position in Gemini Space Station during the 3rd quarter valued at about $599,000. Finally, Steadfast Capital Management LP purchased a new stake in shares of Gemini Space Station during the 3rd quarter valued at about $4,792,000.

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.