Gemini Space Station (NASDAQ:GEMI) Reaches New 12-Month Low – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $16.25 and last traded at $16.29, with a volume of 1755450 shares trading hands. The stock had previously closed at $17.79.

Wall Street Analysts Forecast Growth

GEMI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods initiated coverage on Gemini Space Station in a research note on Tuesday, October 7th. They issued a “market perform” rating and a $27.00 price target on the stock. Wall Street Zen downgraded shares of Gemini Space Station from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Zacks Research upgraded Gemini Space Station to a “hold” rating in a report on Wednesday, October 8th. Morgan Stanley assumed coverage on Gemini Space Station in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $29.00 target price on the stock. Finally, Evercore ISI began coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They set an “outperform” rating and a $30.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.36.

Gemini Space Station Stock Down 5.2%

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GEMI. SBI Securities Co. Ltd. bought a new position in Gemini Space Station in the 3rd quarter valued at $51,000. Ground Swell Capital LLC purchased a new position in shares of Gemini Space Station in the 3rd quarter worth about $229,000. Wealth Enhancement Advisory Services LLC bought a new position in Gemini Space Station during the third quarter valued at about $248,000. Finally, SG Americas Securities LLC purchased a new stake in Gemini Space Station during the third quarter worth about $325,000.

About Gemini Space Station

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.