Gemini Space Station (NASDAQ:GEMI) Shares Down 6.4% – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) shares fell 6.4% on Friday. The stock traded as low as $4.74 and last traded at $4.7450. Approximately 1,516,256 shares traded hands during trading, a decline of 25% from the average session volume of 2,026,513 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho set a $7.00 target price on shares of Gemini Space Station in a report on Monday, August 17th. Morgan Stanley cut their target price on 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. Rosenblatt Securities dropped their price target on Gemini Space Station from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Keefe, Bruyette & Woods raised shares of Gemini Space Station to a “hold” rating in a research report on Tuesday. Finally, Citigroup lowered their price objective 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.84.

Gemini Space Station Stock Performance

The company has a 50 day moving average price of $4.52 and a 200 day moving average price of $4.67. The company has a market capitalization of $610.39 million and a price-to-earnings ratio of -0.48.

Gemini Space Station (NASDAQ:GEMI) last issued its earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.18). Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. The firm had revenue of $45.48 million during the quarter. Research analysts forecast that Gemini Space Station, Inc. will post -3.37 EPS for the current year.

Hedge Funds Weigh In On Gemini Space Station

A number of institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new stake in shares of Gemini Space Station in the 2nd quarter worth about $130,000. ParaFi Capital LP boosted its stake in Gemini Space Station by 430.7% during the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock valued at $14,607,000 after purchasing an additional 2,782,786 shares during the last quarter. Gryphon Financial Partners LLC bought a new stake in Gemini Space Station during the 1st quarter worth approximately $145,000. Apollon Wealth Management LLC purchased a new stake in shares of Gemini Space Station in the first quarter worth approximately $44,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Gemini Space Station in the fourth quarter worth approximately $88,000.

Gemini Space Station Company Profile

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.