Gemini Space Station (NASDAQ:GEMI) Shares Gap Up - Here's What Happened

Key Points

• Gemini Space Station shares rose 2.8%, opening at $4.13 versus a prior close of $3.93 and later trading near $4.21 on volume of more than 2.15 million shares.
• Analysts have recently lowered their price targets and ratings, including Goldman Sachs cutting its target to $3.50 with a sell rating. The overall analyst consensus remains Hold, with an average price target of $10.86.
• The company reported a quarterly loss of $0.89 per share, missing estimates by $0.18, alongside a negative net margin of 250.13% and negative return on equity of 75.66%.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $3.93, but opened at $4.13. Gemini Space Station shares last traded at $4.2140, with a volume of 2,153,407 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on GEMI. Truist Financial cut their target price on Gemini Space Station from $5.00 to $4.50 and set a "hold" rating for the company in a research report on Friday, July 24th. Wall Street Zen cut Gemini Space Station from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Weiss Ratings lowered Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a research note on Friday, August 14th. Morgan Stanley cut their price objective on Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating for the company in a report on Friday, July 10th. Finally, The Goldman Sachs Group reduced their target price on shares of Gemini Space Station from $4.00 to $3.50 and set a "sell" rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.86.

Gemini Space Station Trading Up 2.8%

The firm has a market capitalization of $481.93 million and a price-to-earnings ratio of -0.42. The firm has a fifty day moving average price of $4.30 and a 200 day moving average price of $5.21.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.18). Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. The business had revenue of $45.48 million for the quarter. As a group, equities analysts predict that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new position in Gemini Space Station during the 3rd quarter worth about $123,000. SBI Securities Co. Ltd. raised its stake in shares of Gemini Space Station by 362.1% in the fourth 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. Man Group plc bought a new position in shares of Gemini Space Station in the third quarter worth about $201,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gemini Space Station during the fourth quarter worth approximately $88,000. Finally, Sandia Investment Management LP acquired a new position in shares of Gemini Space Station during the third quarter worth approximately $228,000.

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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