Gemini Space Station (NASDAQ:GEMI) Stock Price Down 5% - What's Next?

Key Points

• Gemini Space Station shares fell 5% to about $5.37 in mid-day trading, while trading volume was 77% below the average session volume.
• Analyst sentiment remains mixed but centers on a “Hold” consensus; recent price-target changes range from $4.00 to $6.00, despite a reported consensus target of $10.84.
• The company’s latest quarter missed earnings expectations, reporting a loss of $0.89 per share versus the $0.71 expected, with a negative net margin of 250.13%; analysts forecast a full-year loss of $3.37 per share.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report) shares fell 5% during mid-day trading on Friday. The company traded as low as $5.27 and last traded at $5.3650. 455,920 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 2,023,778 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GEMI. Morgan Stanley cut their target price on Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Friday, July 10th. Weiss Ratings lowered shares of Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a report on Friday, August 14th. Rosenblatt Securities reduced their target price 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. 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 report on Wednesday, September 9th. Finally, Truist Financial lowered their price target on shares of Gemini Space Station from $5.00 to $4.50 and set a "hold" rating for the company in a research note on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Gemini Space Station has a consensus rating of "Hold" and a consensus price target of $10.84.

Gemini Space Station Stock Performance

The business's 50-day moving average is $4.45 and its 200-day moving average is $4.78. The company has a market capitalization of $726.83 million and a PE ratio of -0.57.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) earnings per share for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.18). Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. The firm had revenue of $45.48 million for the quarter. Analysts expect that Gemini Space Station, Inc. will post -3.37 EPS for the current year.

Institutional Trading of Gemini Space Station

Several institutional investors have recently made changes to their positions in GEMI. ParaFi Capital LP lifted its position 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 valued at $14,607,000 after purchasing an additional 2,782,786 shares during the last quarter. Commonwealth Bank of Australia bought a new position in shares of Gemini Space Station in the 4th quarter worth $7,086,000. Gryphon Financial Partners LLC purchased a new stake in Gemini Space Station during the first quarter valued at approximately $145,000. WINTON GROUP Ltd purchased a new stake in shares of Gemini Space Station during the second quarter worth about $130,000. Finally, Clear Street Group Inc. purchased a new stake in shares of Gemini Space Station during the fourth quarter valued at $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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