Gemini Space Station (NASDAQ:GEMI) Shares Up 6.5% – What’s Next?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price shot up 6.5% during mid-day trading on Tuesday . The stock traded as high as $12.45 and last traded at $12.37. 967,561 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,028,194 shares. The stock had previously closed at $11.61.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a research note on Wednesday. Citigroup began coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They set a “neutral” rating and a $26.00 price objective for the company. Mizuho assumed coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Truist Financial reduced their price target on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.55.

Gemini Space Station Trading Down 2.3%

The business’s 50 day moving average price is $15.03.

Gemini Space Station (NASDAQ:GEMI) last released its earnings results on Monday, November 10th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The business had revenue of $50.62 million during the quarter, compared to analyst estimates of $45.87 million.

Hedge Funds Weigh In On Gemini Space Station

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dragoneer Investment Group LLC purchased a new position in shares of Gemini Space Station during the 3rd quarter valued at about $38,815,000. Altimeter Capital Management LP purchased a new stake in Gemini Space Station during the 3rd quarter valued at $38,336,000. UBS Group AG bought a new stake in Gemini Space Station in the 3rd quarter worth $31,994,000. Vanguard Group Inc. purchased a new stake in shares of Gemini Space Station during the third quarter worth about $25,656,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Gemini Space Station in the third quarter worth about $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.