Gemini Space Station, Inc. (NASDAQ:GEMI) Receives Average Recommendation of “Hold” from Brokerages

Gemini Space Station, Inc. (NASDAQ:GEMI) has received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.5227.

Several research analysts have issued reports on GEMI shares. The Goldman Sachs Group decreased their target price on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Weiss Ratings raised shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research report on Friday. Truist Financial lowered shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a report on Tuesday, February 17th. Morgan Stanley lowered their price objective on 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. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $9.00 target price on shares of Gemini Space Station in a research note on Monday, May 18th.

Gemini Space Station Price Performance

Shares of NASDAQ:GEMI opened at $4.78 on Wednesday. Gemini Space Station has a 1-year low of $3.91 and a 1-year high of $45.89. The business has a fifty day moving average price of $4.93 and a 200-day moving average price of $8.17. The company has a market capitalization of $570.21 million and a PE ratio of -1.21.

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

Insider Activity

In related news, Director Sachin Chand Jaitly sold 39,708 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $8.92, for a total transaction of $354,195.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Gemini Space Station

Several hedge funds and other institutional investors have recently bought and sold shares of GEMI. SBI Securities Co. Ltd. purchased a new stake in shares of Gemini Space Station during the 3rd quarter valued at about $51,000. National Bank of Canada FI purchased a new position in shares of Gemini Space Station during the third quarter valued at approximately $123,000. Man Group plc bought a new position in Gemini Space Station during the third quarter valued at approximately $201,000. Caitong International Asset Management Co. Ltd purchased a new stake in Gemini Space Station in the fourth quarter worth approximately $88,000. Finally, Sandia Investment Management LP purchased a new stake in Gemini Space Station in the third quarter worth approximately $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.