Gemini Space Station (NASDAQ:GEMI) Shares Up 9% – Time to Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares shot up 9% during mid-day trading on Friday . The stock traded as high as $4.67 and last traded at $4.7850. 162,402 shares were traded during trading, a decline of 92% from the average session volume of 1,918,133 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

GEMI has been the subject of several analyst reports. Cantor Fitzgerald decreased their target price on Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday, August 17th. Weiss Ratings downgraded shares of Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Citigroup dropped their price objective on shares of Gemini Space Station from $4.00 to $3.20 and set a “sell” rating on the stock in a research note on Thursday, August 20th. Mizuho set a $7.00 target price on shares of Gemini Space Station in a research report on Monday, August 17th. Finally, Morgan Stanley lowered their price target on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.84.

Gemini Space Station Stock Up 4.2%

The company has a 50 day simple moving average of $4.29 and a 200-day simple moving average of $4.91. The stock has a market cap of $593.15 million and a price-to-earnings ratio of -0.47.

Gemini Space Station (NASDAQ:GEMI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter. On average, equities research analysts expect that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

A number of large investors have recently bought and sold shares of GEMI. ParaFi Capital LP boosted its holdings in shares of Gemini Space Station by 430.7% during the second quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock valued at $14,607,000 after acquiring an additional 2,782,786 shares during the period. Commonwealth Bank of Australia bought a new stake in Gemini Space Station in the 4th quarter valued at about $7,086,000. Hsbc Holdings PLC acquired a new position in Gemini Space Station during the 4th quarter valued at about $174,000. Invesco Ltd. acquired a new position in Gemini Space Station during the 4th quarter valued at about $173,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Gemini Space Station in the fourth quarter valued at approximately $160,000.

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.