Gemini Space Station (NASDAQ:GEMI) Shares Down 5.3% – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) fell 5.3% during trading on Friday . The stock traded as low as $4.18 and last traded at $4.3110. Approximately 288,197 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,858,121 shares. The stock had previously closed at $4.55.

Wall Street Analysts Forecast Growth

GEMI has been the topic of several recent analyst reports. Mizuho lowered their target price on shares of Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, March 23rd. The Goldman Sachs Group reduced their price target on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley decreased their price target on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Rosenblatt Securities restated a “buy” rating and issued a $9.00 price target on shares of Gemini Space Station in a report on Monday, May 18th. Finally, Weiss Ratings raised Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Gemini Space Station presently has a consensus rating of “Hold” and a consensus price target of $12.48.

Gemini Space Station Stock Down 7.4%

The firm’s fifty day simple moving average is $4.69 and its 200-day simple moving average is $6.25. The company has a market cap of $502.81 million and a PE ratio of -1.06.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings data 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 business’s revenue was up 38.3% compared to the same quarter last year. On average, analysts predict that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new position in shares of Gemini Space Station in the third quarter worth $25,656,000. Van ECK Associates Corp acquired a new stake in shares of Gemini Space Station during the third quarter valued at $9,328,000. Franklin Resources Inc. acquired a new stake in shares of Gemini Space Station during the third quarter valued at $2,963,000. UBS Group AG purchased a new stake in Gemini Space Station during the 3rd quarter worth about $31,994,000. Finally, Squarepoint Ops LLC acquired a new position in Gemini Space Station in the 3rd quarter valued at about $9,547,000.

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.