Gemini Space Station (NASDAQ:GEMI) Stock Price Up 7.3% - Time to Buy?

Key Points

• Gemini Space Station shares rose 7.3% to about $4.60, although trading volume was 88% below the average session level.
• Analyst sentiment remains cautious: the stock has an overall “Hold” rating, with several firms cutting price targets and three analysts issuing “Sell” ratings.
• The company reported a quarterly loss of $0.89 per share, worse than the $0.71 consensus estimate, alongside a $45.48 million revenue and sharply negative profitability metrics.

Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report)'s stock price rose 7.3% on Thursday . The stock traded as high as $4.64 and last traded at $4.6040. Approximately 225,626 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,914,025 shares. The stock had previously closed at $4.29.

Analyst Upgrades and Downgrades

Several analysts recently commented on GEMI shares. The Goldman Sachs Group dropped their price target on shares of Gemini Space Station from $4.00 to $3.50 and set a "sell" rating on the stock in a research report on Monday, August 17th. Weiss Ratings lowered Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a research note on Friday, August 14th. Mizuho set a $7.00 target price on Gemini Space Station in a research report on Monday, August 17th. Cantor Fitzgerald reduced 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. Finally, Citigroup lowered their target price on shares of Gemini Space Station from $4.00 to $3.20 and set a "sell" rating for the company in a research note on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Gemini Space Station currently has an average rating of "Hold" and an average target price of $10.79.

Gemini Space Station Trading Up 11.1%

The firm has a market cap of $617.78 million and a PE ratio of -0.49. The firm has a 50 day moving average price of $4.24 and a 200-day moving average price of $5.00.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last announced its quarterly 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 company had revenue of $45.48 million for the quarter. Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%. Equities analysts forecast that Gemini Space Station, Inc. will post -3.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GEMI. Vanguard Group Inc. purchased a new position in shares of Gemini Space Station during the 3rd quarter worth $25,656,000. Van ECK Associates Corp acquired a new stake in shares of Gemini Space Station in the third quarter worth approximately $9,328,000. Franklin Resources Inc. purchased a new stake in Gemini Space Station in the third quarter valued at approximately $2,963,000. UBS Group AG purchased a new position in Gemini Space Station during the third quarter worth approximately $31,994,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Gemini Space Station during the 3rd quarter valued at $9,547,000.

Gemini Space Station Company Profile

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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