Gemini Space Station (NASDAQ:GEMI) Trading 9% Higher - What's Next?

Key Points

• Gemini Space Station shares jumped 9% to about $4.79 in Friday trading, though volume was roughly 92% below the average daily level.
• Analysts remain divided: the consensus rating is “Hold”, with three Buy, seven Hold, and three Sell ratings. Several firms lowered their price targets, while the average target remains $10.84.
• The company reported a quarterly loss of $0.89 per share, missing estimates by $0.18, alongside $45.48 million in revenue and significantly negative profitability metrics.

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report) shot up 9% on Friday . The stock traded as high as $4.67 and last traded at $4.7850. Approximately 162,402 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,918,133 shares. The stock had previously closed at $4.39.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Needham & Company LLC cut their price target on Gemini Space Station from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, August 17th. Rosenblatt Securities cut their price objective on shares of Gemini Space Station from $9.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Morgan Stanley lowered their target price on shares of Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Friday, July 10th. The Goldman Sachs Group boosted their price target 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. Finally, Wall Street Zen cut shares of Gemini Space Station from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.84.

Gemini Space Station Stock Performance

The firm has a market cap of $593.15 million and a price-to-earnings ratio of -0.47. The business has a fifty day moving average of $4.29 and a two-hundred day moving average of $4.91.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.18). The firm 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%. On average, equities research analysts forecast that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Apollon Wealth Management LLC purchased a new position in Gemini Space Station during the first quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd acquired a new position in Gemini Space Station in the fourth quarter valued at $88,000. Engineers Gate Manager LP purchased a new stake in Gemini Space Station during the fourth quarter valued at about $100,000. National Bank of Canada FI purchased a new stake in Gemini Space Station during the third quarter valued at about $123,000. Finally, WINTON GROUP Ltd acquired a new stake in Gemini Space Station during the second quarter worth about $130,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.