Gemini Space Station (NASDAQ:GEMI) Trading Down 5.3% - What's Next?

Key Points

• Gemini Space Station shares fell 5.3% in midday trading, with the stock last changing hands at $4.3110 after trading as low as $4.18. Volume was far below normal at 288,197 shares, versus an average of 1.86 million.
• Analysts remain cautious overall: several firms have cut price targets recently, and the stock now carries an average rating of “Hold” with an average target price of $12.48. Recent moves included Goldman Sachs lowering its target to $5.75 and Wall Street Zen downgrading the stock to “sell.”
• Recent earnings were mixed, as the company posted a quarterly loss of $0.93 per share, slightly worse than estimates, even though revenue rose 38.3% year over year to $50.27 million. Analysts expect the company to report -3.37 EPS for the current fiscal year.

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report) were down 5.3% during mid-day trading on Friday . The stock traded as low as $4.18 and last traded at $4.3110. 288,197 shares traded hands during trading, a decline of 84% from the average daily volume of 1,858,121 shares. The stock had previously closed at $4.55.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group reduced their target price on Gemini Space Station from $6.50 to $5.75 and set a "neutral" rating for the company in a report on Wednesday, April 8th. Needham & Company LLC decreased their price objective on Gemini Space Station from $10.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 23rd. 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. Morgan Stanley cut their target price on shares of Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Finally, Mizuho reduced their price target on shares of Gemini Space Station from $26.00 to $12.00 and set an "outperform" rating for the company in a research report on Monday, March 23rd. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.48.

Gemini Space Station Stock Performance

The business has a 50-day simple moving average of $4.69 and a two-hundred day simple moving average of $6.25. The company has a market capitalization of $502.81 million and a price-to-earnings ratio of -1.06.

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 analysts' consensus estimates of ($0.90) by ($0.03). The firm had revenue of $50.27 million during the quarter. The firm's revenue for the quarter was up 38.3% compared to the same quarter last year. Research analysts predict that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. acquired a new stake in shares of Gemini Space Station in the 3rd quarter worth $25,656,000. Van ECK Associates Corp acquired a new position in Gemini Space Station during the third quarter worth $9,328,000. Franklin Resources Inc. purchased a new position in Gemini Space Station in the third quarter worth $2,963,000. UBS Group AG acquired a new stake in Gemini Space Station in the third quarter valued at $31,994,000. Finally, Squarepoint Ops LLC acquired a new stake in Gemini Space Station in the third quarter valued at $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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