ParaFi Capital LP Has $14.61 Million Stock Position in Gemini Space Station, Inc. $GEMI

Key Points

• ParaFi Capital significantly increased its Gemini Space Station stake by 430.7% in the second quarter, holding 3.43 million shares worth approximately $14.61 million, or 2.87% of GEMI.
• Gemini shares opened at $4.29, near their 52-week low, while the company reported a quarterly loss of $0.89 per share—worse than the $0.71 consensus estimate—on $45.48 million in revenue.
• Analyst sentiment remains cautious: the stock has an overall “Hold” rating, with several firms recently lowering price targets and three analysts rating it a “Sell.”

ParaFi Capital LP raised its position in Gemini Space Station, Inc. (NASDAQ:GEMI - Free Report) by 430.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,428,888 shares of the company's stock after purchasing an additional 2,782,786 shares during the quarter. Gemini Space Station accounts for approximately 4.2% of ParaFi Capital LP's holdings, making the stock its 7th largest holding. ParaFi Capital LP owned 2.87% of Gemini Space Station worth $14,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. National Bank of Canada FI bought a new position in shares of Gemini Space Station during the third quarter worth about $123,000. Man Group plc bought a new stake in Gemini Space Station in the 3rd quarter valued at approximately $201,000. Caitong International Asset Management Co. Ltd bought a new stake in Gemini Space Station in the 4th quarter valued at approximately $88,000. Sandia Investment Management LP acquired a new position in Gemini Space Station during the 3rd quarter worth approximately $228,000. Finally, SBI Securities Co. Ltd. boosted its position in 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 acquiring an additional 7,781 shares during the last quarter.

Gemini Space Station Price Performance

Shares of Gemini Space Station stock opened at $4.29 on Thursday. The business has a fifty day simple moving average of $4.24 and a two-hundred day simple moving average of $5.00. Gemini Space Station, Inc. has a 1 year low of $3.38 and a 1 year high of $45.89. The company has a market capitalization of $556.20 million and a price-to-earnings ratio of -0.44.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that Gemini Space Station, Inc. will post -3.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GEMI has been the topic of a number of recent research reports. Rosenblatt Securities lowered their price objective on shares of Gemini Space Station from $9.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Weiss Ratings cut shares of Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a report on Friday, August 14th. The Goldman Sachs Group decreased their target price on shares of Gemini Space Station from $4.00 to $3.50 and set a "sell" rating for the company in a research report on Monday, August 17th. Truist Financial lowered their price target on shares of Gemini Space Station from $5.00 to $4.50 and set a "hold" rating on the stock in a research note on Friday, July 24th. Finally, Citigroup cut their price target on shares of Gemini Space Station from $4.00 to $3.20 and set a "sell" rating on the stock in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.79.

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.

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