Gemini Space Station (NASDAQ:GEMI) Trading 9.3% Higher – Should You Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price shot up 9.3% on Wednesday . The stock traded as high as $4.68 and last traded at $4.6550. Approximately 927,262 shares were traded during trading, a decline of 52% from the average session volume of 1,919,632 shares. The stock had previously closed at $4.26.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GEMI. Rosenblatt Securities reissued a “buy” rating and set a $9.00 target price on shares of Gemini Space Station in a research note on Monday, May 18th. Weiss Ratings raised shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Mizuho lowered their price objective on shares of Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. Citigroup dropped 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 report on Tuesday, April 28th. Finally, The Goldman Sachs Group cut 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. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gemini Space Station has a consensus rating of “Hold” and a consensus target price of $12.52.

Gemini Space Station Price Performance

The stock’s 50-day moving average price is $4.74 and its 200 day moving average price is $6.88. The firm has a market cap of $532.63 million and a P/E ratio of -1.13.

Gemini Space Station (NASDAQ:GEMI) last released its 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 company had revenue of $50.27 million for the quarter. Gemini Space Station’s quarterly revenue was up 38.3% compared to the same quarter last year. As a group, analysts forecast that Gemini Space Station, Inc. will post -3.56 EPS for the current fiscal year.

Institutional Trading of Gemini Space Station

A number of hedge funds and other institutional investors have recently modified their holdings of GEMI. Apollon Wealth Management LLC bought a new stake in Gemini Space Station during the first quarter worth about $44,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gemini Space Station during the 4th quarter worth approximately $88,000. SBI Securities Co. Ltd. raised its stake in shares of 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 purchasing an additional 7,781 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Gemini Space Station in the 4th quarter valued at approximately $100,000. Finally, National Bank of Canada FI acquired a new stake in shares of Gemini Space Station in the 3rd quarter valued at approximately $123,000.

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.