Gemini Space Station (NASDAQ:GEMI) Trading 7.7% Higher - Here's Why

Key Points

• Gemini Space Station (NASDAQ:GEMI) rose 7.7% on Tuesday, trading as high as $4.80 before closing near $4.85. Volume was far below normal, with just 151,556 shares traded versus an average of 1.85 million.
• Analyst sentiment remains mixed, with several firms cutting price targets recently. The stock currently carries a consensus Hold rating and an average target price of $12.48, though individual targets range from $4.00 to $12.00.
• The company’s latest earnings missed expectations, reporting a loss of $0.93 per share on revenue of $50.27 million. Revenue still grew 38.3% year over year, but analysts expect Gemini to post a full-year loss of $3.37 per share.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report)'s stock price was up 7.7% during trading on Tuesday . The company traded as high as $4.80 and last traded at $4.8450. 151,556 shares changed hands during trading, a decline of 92% from the average daily volume of 1,846,510 shares. The stock had previously closed at $4.50.

Analysts Set New Price Targets

GEMI has been the subject of several research analyst reports. Mizuho reduced their price objective on Gemini Space Station from $26.00 to $12.00 and set an "outperform" rating for the company in a report on Monday, March 23rd. Wall Street Zen cut Gemini Space Station from a "hold" rating to a "sell" rating in a research report on Monday, June 15th. Morgan Stanley lowered 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. Citigroup dropped their price objective 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. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $9.00 target price on shares of Gemini Space Station in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Gemini Space Station currently has an average rating of "Hold" and a consensus target price of $12.48.

Gemini Space Station Stock Performance

The stock has a market capitalization of $571.40 million and a PE ratio of -1.21. The stock has a 50-day moving average price of $4.66 and a two-hundred day moving average price of $6.17.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The company had revenue of $50.27 million for the quarter. The firm's revenue was up 38.3% compared to the same quarter last year. As a group, equities analysts predict that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new position in Gemini Space Station in the 3rd quarter worth approximately $25,656,000. Van ECK Associates Corp purchased a new position in Gemini Space Station during the third quarter valued at $9,328,000. Franklin Resources Inc. bought a new stake in Gemini Space Station in the 3rd quarter valued at $2,963,000. UBS Group AG bought a new stake in Gemini Space Station in the 3rd quarter valued at $31,994,000. Finally, Squarepoint Ops LLC purchased a new stake in Gemini Space Station in the 3rd quarter worth $9,547,000.

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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