Gemini Space Station (NASDAQ:GEMI) Shares Down 6.4% - What's Next?

Key Points

• Gemini Space Station shares fell 6.4% to about $4.75 in Friday trading, with roughly 1.52 million shares changing hands—below average volume.
• Analyst sentiment is mixed, with three Buy, seven Hold, and three Sell ratings. The average price target is $10.84, although several firms recently lowered their targets.
• The company reported a quarterly loss of $0.89 per share, missing estimates, alongside a negative 250.13% net margin and 75.66% negative return on equity. Analysts expect a full-year loss of $3.37 per share.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report)'s stock price fell 6.4% on Friday. The stock traded as low as $4.74 and last traded at $4.7450. Approximately 1,516,256 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 2,026,513 shares. The stock had previously closed at $5.07.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GEMI shares. Rosenblatt Securities lowered their target price on Gemini Space Station from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, August 17th. The Goldman Sachs Group lifted their price target on shares of Gemini Space Station from $3.50 to $4.00 and gave the company a "sell" rating in a report on Wednesday, September 9th. Citigroup lowered their price objective on shares of Gemini Space Station from $4.00 to $3.20 and set a "sell" rating for the company in a research report on Thursday, August 20th. Mizuho set a $7.00 price objective on shares of Gemini Space Station in a research note on Monday, August 17th. Finally, Needham & Company LLC cut their target price on shares of Gemini Space Station from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Gemini Space Station currently has an average rating of "Hold" and an average price target of $10.84.

Gemini Space Station Price Performance

The firm has a 50-day simple moving average of $4.52 and a 200 day simple moving average of $4.67. The stock has a market capitalization of $610.39 million and a P/E ratio of -0.48.

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 the consensus estimate of ($0.71) by ($0.18). Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%.The firm had revenue of $45.48 million for the quarter. Sell-side analysts anticipate that Gemini Space Station, Inc. will post -3.37 earnings per share for the current fiscal year.

Institutional Trading of Gemini Space Station

Institutional investors and hedge funds have recently bought and sold shares of the stock. ParaFi Capital LP lifted its holdings in Gemini Space Station by 430.7% during the 2nd 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 during the period. Commonwealth Bank of Australia bought a new stake in Gemini Space Station in the fourth quarter valued at approximately $7,086,000. Gryphon Financial Partners LLC bought a new stake in Gemini Space Station in the first quarter valued at approximately $145,000. WINTON GROUP Ltd acquired a new stake in Gemini Space Station during the 2nd quarter valued at approximately $130,000. Finally, Clear Street Group Inc. bought a new position in Gemini Space Station during the 4th quarter worth approximately $219,000.

Gemini Space Station Company Profile

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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