Gemini Space Station (NASDAQ:GEMI) Shares Down 5.8% – What’s Next?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price was down 5.8% on Tuesday . The company traded as low as $4.81 and last traded at $4.86. Approximately 1,356,245 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 1,911,595 shares. The stock had previously closed at $5.16.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup reduced their price objective on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, April 28th. Needham & Company LLC dropped their target price on Gemini Space Station from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $8.00 price target (down from $14.00) on shares of Gemini Space Station in a report on Wednesday, February 18th. Mizuho lowered their price objective on Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. Finally, Weiss Ratings raised Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.52.

Gemini Space Station Price Performance

The stock’s 50 day moving average is $4.84 and its two-hundred day moving average is $8.02.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The firm had revenue of $50.27 million during the quarter. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. Analysts predict that Gemini Space Station, Inc. will post -3.56 earnings per share for the current year.

Insider Activity

In other news, Director Sachin Chand Jaitly sold 39,708 shares of Gemini Space Station stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total value of $354,195.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Gemini Space Station

Several hedge funds and other institutional investors have recently made changes to their positions in GEMI. Dragoneer Investment Group LLC acquired a new position in shares of Gemini Space Station in the third quarter valued at $38,815,000. Altimeter Capital Management LP bought a new stake in shares of Gemini Space Station during the third quarter worth approximately $38,336,000. UBS Group AG bought a new stake in shares of Gemini Space Station during the third quarter worth approximately $31,994,000. Vanguard Group Inc. acquired a new position in shares of Gemini Space Station in the third quarter valued at approximately $25,656,000. Finally, Commonwealth Bank of Australia acquired a new position in shares of Gemini Space Station in the fourth quarter valued at approximately $7,086,000.

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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.