Gemini Space Station (NASDAQ:GEMI) Sees Unusually-High Trading Volume – Here’s What Happened

Gemini Space Station, Inc. (NASDAQ:GEMI) shares saw unusually-high trading volume on Monday . 1,435,298 shares traded hands during trading, a decline of 28% from the previous session’s volume of 2,003,487 shares.The stock last traded at $5.72 and had previously closed at $5.81.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GEMI shares. 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 report on Monday, August 17th. Morgan Stanley cut their price objective on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Weiss Ratings downgraded Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. The Goldman Sachs Group increased their price objective 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, September 9th. Finally, Citigroup lowered 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 report on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.84.

Gemini Space Station Trading Up 1.3%

The company has a market cap of $762.86 million and a P/E ratio of -0.61. The company has a 50 day moving average price of $4.34 and a 200-day moving average price of $4.85.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities analysts expect that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Institutional Investors Weigh In On Gemini Space Station

Several hedge funds and other institutional investors have recently modified their holdings of GEMI. ParaFi Capital LP grew its stake in shares of Gemini Space Station by 430.7% in the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock worth $14,607,000 after acquiring an additional 2,782,786 shares in the last quarter. Commonwealth Bank of Australia bought a new position in Gemini Space Station in the 4th quarter worth approximately $7,086,000. Gryphon Financial Partners LLC purchased a new position in Gemini Space Station during the 1st quarter valued at about $145,000. WINTON GROUP Ltd bought a new position in Gemini Space Station in the 2nd quarter valued at $130,000. Finally, Clear Street Group Inc. purchased a new position in Gemini Space Station during the fourth quarter worth about $219,000.

About Gemini Space Station

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.