Gemini Space Station (NASDAQ:GEMI) Sees Large Volume Increase - Here's What Happened

Key Points

• Gemini Space Station shares traded heavily, with about 1.44 million shares changing hands, while the stock fell to $5.72 from a $5.81 close.
• Analyst views remain mixed: the consensus rating is “Hold” across 13 analysts, with a consensus price target of $10.84; several firms recently cut targets to $6.00.
• The company reported a quarterly loss of $0.89 per share, worse than the $0.71 consensus estimate, alongside $45.48 million in revenue and sharply negative profitability metrics.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,435,298 shares changed hands during trading, a decline of 28% from the previous session's volume of 2,003,487 shares.The stock last traded at $5.72 and had previously closed at $5.81.

Analyst Ratings Changes

GEMI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Gemini Space Station from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Needham & Company LLC cut their target price on shares of Gemini Space Station from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Weiss Ratings downgraded Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a research report on Friday, August 14th. The Goldman Sachs Group lifted their target price on shares of Gemini Space Station from $3.50 to $4.00 and gave the stock a "sell" rating in a research note on Wednesday, September 9th. Finally, Rosenblatt Securities cut 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. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.84.

Gemini Space Station Price Performance

The stock has a market cap of $762.86 million and a P/E ratio of -0.61. The stock's fifty day simple moving average is $4.34 and its 200-day simple moving average is $4.85.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.18). The business 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%. Analysts forecast that Gemini Space Station, Inc. will post -3.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd bought a new position in Gemini Space Station in the 2nd quarter worth $130,000. ParaFi Capital LP boosted its stake in Gemini Space Station by 430.7% during the second quarter. ParaFi Capital LP now owns 3,428,888 shares of the company's stock worth $14,607,000 after buying an additional 2,782,786 shares in the last quarter. Gryphon Financial Partners LLC bought a new stake in Gemini Space Station in the first quarter valued at about $145,000. Apollon Wealth Management LLC acquired a new position in shares of Gemini Space Station in the 1st quarter worth approximately $44,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gemini Space Station in the 4th quarter valued at $88,000.

About Gemini Space Station

Gemini Space Station, Inc, doing business as Gemini, is a cryptocurrency platform that provides digital-asset trading, custody and related financial services to retail and institutional customers. Its platform enables users to buy, sell, store and transfer cryptocurrencies and access market data and portfolio-management tools.

The company has also offered institutional services, including custody, execution and clearing solutions, as well as products designed to support staking and other digital-asset activities.

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