North Reef Capital Management LP Acquires New Shares in Gemini Space Station, Inc. $GEMI

Key Points

• North Reef Capital Management acquired 245,322 shares of Gemini Space Station in Q3 valued at about $5.88 million, representing roughly 0.3% of its portfolio and its 29th largest holding.
• Analysts' consensus is a Hold (3 Buy, 9 Hold, 1 Sell) with an average target price of $16.68 after several firms recently cut their targets.
• GEMI trades near $7.22 (52‑week range $5.57–$45.89) with a market cap of about $849M and a negative P/E, and Director Sachin Chand Jaitly sold 39,708 shares at $8.92 on March 11.

North Reef Capital Management LP acquired a new position in Gemini Space Station, Inc. (NASDAQ:GEMI - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 245,322 shares of the company's stock, valued at approximately $5,878,000. Gemini Space Station makes up approximately 0.3% of North Reef Capital Management LP's investment portfolio, making the stock its 29th largest position. North Reef Capital Management LP owned approximately 0.21% of Gemini Space Station at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GEMI. SBI Securities Co. Ltd. bought a new position in Gemini Space Station during the third quarter valued at about $51,000. National Bank of Canada FI bought a new stake in shares of Gemini Space Station during the 3rd quarter worth about $123,000. Man Group plc bought a new stake in shares of Gemini Space Station during the 3rd quarter worth about $201,000. Sandia Investment Management LP acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $228,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $229,000.

Wall Street Analysts Forecast Growth

GEMI has been the subject of several analyst reports. Truist Financial lowered Gemini Space Station from a "buy" rating to a "hold" rating and set a $7.00 target price for the company. in a report on Tuesday, February 17th. Weiss Ratings reissued a "sell (d)" rating on shares of Gemini Space Station in a research report on Monday, December 29th. Rosenblatt Securities reduced their price objective on shares of Gemini Space Station from $26.00 to $11.50 and set a "buy" rating for the company in a research note on Friday, February 20th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $8.00 price objective (down from $14.00) on shares of Gemini Space Station in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group lowered their target price on shares of Gemini Space Station from $19.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Gemini Space Station presently has a consensus rating of "Hold" and an average target price of $16.68.

Gemini Space Station Stock Performance

Shares of GEMI opened at $7.22 on Tuesday. Gemini Space Station, Inc. has a 52-week low of $5.57 and a 52-week high of $45.89. The company has a market cap of $849.46 million and a price-to-earnings ratio of -3.99. The firm has a fifty day simple moving average of $8.37.

Insider Buying and Selling

In other news, Director Sachin Chand Jaitly sold 39,708 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total value of $354,195.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.

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