Gemini Space Station (NASDAQ:GEMI) Stock Price Up 8.3% – Time to Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI) rose 8.3% during mid-day trading on Monday . The stock traded as high as $4.45 and last traded at $4.5260. Approximately 223,976 shares were traded during trading, a decline of 88% from the average daily volume of 1,921,839 shares. The stock had previously closed at $4.18.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GEMI. Cantor Fitzgerald reiterated a “neutral” rating and set a $8.00 target price (down from $14.00) on shares of Gemini Space Station in a report on Wednesday, February 18th. Wall Street Zen upgraded shares of Gemini Space Station from a “sell” rating to a “hold” rating in a report on Sunday. Morgan Stanley dropped their target price on shares of Gemini Space Station from $13.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Weiss Ratings upgraded shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Finally, The Goldman Sachs Group dropped their target price on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Gemini Space Station currently has an average rating of “Hold” and an average price target of $12.52.

Gemini Space Station Price Performance

The company has a market capitalization of $532.03 million and a P/E ratio of -1.13. The stock’s 50 day moving average is $4.75 and its 200-day moving average is $7.55.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The company had revenue of $50.27 million for the quarter. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts anticipate that Gemini Space Station, Inc. will post -3.56 EPS for the current year.

Hedge Funds Weigh In On Gemini Space Station

A number of institutional investors have recently bought and sold shares of the stock. Dragoneer Investment Group LLC bought a new position in shares of Gemini Space Station during the third quarter valued at approximately $38,815,000. North Reef Capital Management LP bought a new position in shares of Gemini Space Station during the third quarter valued at approximately $5,878,000. Altimeter Capital Management LP bought a new position in shares of Gemini Space Station during the third quarter valued at approximately $38,336,000. Atreides Management LP bought a new position in shares of Gemini Space Station during the third quarter valued at approximately $1,677,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Gemini Space Station during the third quarter valued at approximately $1,677,000.

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.