Gemini Space Station, Inc. (GEMI) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts have a “Hold” consensus: Of 11 brokerages, three rate GEMI a buy, five a hold, and three a sell; the average one-year price target is $5.67.
• Gemini reported a quarterly loss of $0.89 per share, worse than the $0.71 loss analysts expected, on revenue of $45.48 million. The company also reported a negative net margin of 250.13%.
• Shares opened at $2.65, near the 52-week low of $2.31 and well below the 52-week high of $15.29; some institutional investors, including ParaFi Capital, increased their holdings.

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report) have been assigned a consensus rating of "Hold" from the eleven brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $5.67.

Several equities analysts have recently commented on the company. Wall Street Zen downgraded Gemini Space Station from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. The Goldman Sachs Group lifted their price target on Gemini Space Station from $3.50 to $4.00 and gave the stock a "sell" rating in a report on Wednesday, September 9th. Keefe, Bruyette & Woods upgraded Gemini Space Station to a "hold" rating in a research note on Tuesday, September 29th. Needham & Company LLC decreased their price objective on Gemini Space Station from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Finally, Truist Financial lowered their price objective on Gemini Space Station from $4.50 to $3.50 and set a "hold" rating on the stock in a research report on Friday, October 23rd.

Gemini Space Station Stock Performance

NASDAQ GEMI opened at $2.65 on Wednesday. The stock has a market cap of $343.57 million, a PE ratio of -0.27 and a beta of 2.75. The firm has a 50-day moving average of $4.10 and a 200-day moving average of $5.00. Gemini Space Station has a 52-week low of $2.31 and a 52-week high of $15.29.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.18). The company had revenue of $45.48 million during the quarter. Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. As a group, analysts predict that Gemini Space Station will post -3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

Several institutional investors and hedge funds have recently modified their holdings of the business. ParaFi Capital LP increased its holdings in shares of Gemini Space Station by 430.7% during the second quarter. ParaFi Capital LP now owns 3,428,888 shares of the company's stock worth $14,607,000 after purchasing an additional 2,782,786 shares during the period. Ieq Capital LLC acquired a new stake in shares of Gemini Space Station in the third quarter valued at approximately $914,000. Russell Investments Group Ltd. boosted its stake in shares of Gemini Space Station by 5,222.0% in the third quarter. Russell Investments Group Ltd. now owns 174,456 shares of the company's stock valued at $900,000 after buying an additional 171,178 shares during the period. Gryphon Financial Partners LLC bought a new stake in shares of Gemini Space Station in the third quarter valued at approximately $169,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Gemini Space Station in the second quarter valued at approximately $130,000.

About Gemini Space Station

Gemini Space Station, Inc. operates a cryptocurrency platform offering services to individual and institutional customers. Its products include digital-asset trading and custody, along with tools and services for institutions. Founded in 2014 by Cameron and Tyler Winklevoss, the company is based in New York. Gemini also issues the Gemini dollar, a U.S. dollar–pegged stablecoin. Gemini serves customers in the United States and select international markets, with product availability varying by location and local regulations.

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