Gemini Space Station (NASDAQ:GEMI) Stock Price Down 7% - Here's What Happened

Key Points

• Gemini Space Station shares fell 7% to about $4.48, with trading volume down 73% from its average.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Hold,” while several firms recently lowered price targets; the consensus target is $10.84.
• The company reported a quarterly loss of $0.89 per share, missing estimates by $0.18, alongside a negative net margin of 250.13% and negative return on equity of 75.66%.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report)'s stock price traded down 7% during trading on Tuesday . The company traded as low as $4.49 and last traded at $4.4750. Approximately 519,003 shares changed hands during trading, a decline of 73% from the average daily volume of 1,919,137 shares. The stock had previously closed at $4.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GEMI shares. Morgan Stanley lowered their price target on Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating for the company in a report on Friday, July 10th. Cantor Fitzgerald cut their price objective on shares of Gemini Space Station from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Monday, August 17th. Mizuho set a $7.00 price objective on shares of Gemini Space Station in a research report on Monday, August 17th. Rosenblatt Securities lowered their target price on shares of 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. Finally, Citigroup dropped their target price on shares of Gemini Space Station from $4.00 to $3.20 and set a "sell" rating on the stock in a research report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $10.84.

Gemini Space Station Stock Performance

The firm has a market cap of $580.18 million and a PE ratio of -0.46. The stock has a 50 day simple moving average of $4.30 and a two-hundred day simple moving average of $4.90.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) EPS 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 company had revenue of $45.48 million during the quarter. Equities research analysts forecast that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GEMI. ParaFi Capital LP grew its position in shares of Gemini Space Station by 430.7% in 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 period. Commonwealth Bank of Australia acquired a new stake in shares of Gemini Space Station in the fourth quarter valued at approximately $7,086,000. Gryphon Financial Partners LLC purchased a new position in shares of Gemini Space Station during the 1st quarter worth $145,000. WINTON GROUP Ltd acquired a new position in Gemini Space Station in the 2nd quarter valued at about $130,000. Finally, Clear Street Group Inc. purchased a new position in Gemini Space Station in the fourth 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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