Gemini Space Station (NASDAQ:GEMI) Trading 7.5% Higher - What's Next?

Key Points

• Gemini Space Station (NASDAQ:GEMI) shares rose 7.5% on Wednesday, trading as high as $4.60 before last changing hands at $4.6650. Trading volume was far below normal, with about 171,802 shares exchanged versus an average of 1.87 million.
• Analyst sentiment remains cautious overall: the stock has recently received downgrades and lower price targets from firms including Morgan Stanley, Goldman Sachs, and Citigroup. MarketBeat data shows an average rating of Hold and an average target price of $12.48.
• The company recently reported a quarterly loss of $0.93 per share, missing expectations, though revenue rose 38.3% year over year to $50.27 million. Gemini also had a market cap of about $552.9 million and is trading below its 200-day moving average.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report)'s stock price shot up 7.5% on Wednesday . The stock traded as high as $4.60 and last traded at $4.6650. Approximately 171,802 shares traded hands during trading, a decline of 91% from the average daily volume of 1,867,318 shares. The stock had previously closed at $4.34.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Gemini Space Station from a "hold" rating to a "sell" rating in a research report on Monday, June 15th. Rosenblatt Securities reaffirmed a "buy" rating and set a $9.00 price objective on shares of Gemini Space Station in a research report on Monday, May 18th. Morgan Stanley dropped their price objective on shares of 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. The Goldman Sachs Group cut their target price 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. Finally, Citigroup lowered their price target on shares of Gemini Space Station from $5.50 to $4.00 and set a "sell" rating on the stock in a report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.48.

Gemini Space Station Stock Performance

The firm has a market capitalization of $552.91 million and a PE ratio of -1.17. The company's 50 day simple moving average is $4.70 and its 200-day simple moving average is $6.34.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The firm had revenue of $50.27 million for the quarter. The company's revenue was up 38.3% on a year-over-year basis. On average, equities research analysts forecast that Gemini Space Station, Inc. will post -3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

Institutional investors have recently modified their holdings of the business. Apollon Wealth Management LLC acquired a new stake in shares of Gemini Space Station during the 1st quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd bought a new position in Gemini Space Station in the fourth quarter valued at approximately $88,000. SBI Securities Co. Ltd. raised its position in Gemini Space Station by 362.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company's stock valued at $99,000 after purchasing an additional 7,781 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Gemini Space Station during the fourth quarter worth $100,000. Finally, National Bank of Canada FI bought a new stake in Gemini Space Station during the third quarter worth $123,000.

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.

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