Gemini Space Station (NASDAQ:GEMI) Shares Gap Up – Here’s What Happened

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $3.93, but opened at $4.13. Gemini Space Station shares last traded at $4.2140, with a volume of 2,153,407 shares.

Analyst Upgrades and Downgrades

GEMI has been the topic of several analyst reports. Citigroup cut 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 report on Thursday. Wall Street Zen lowered shares of Gemini Space Station from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. The Goldman Sachs Group dropped their target price on shares of Gemini Space Station from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Monday, August 17th. Morgan Stanley cut their price target on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Finally, Rosenblatt Securities decreased their price objective on Gemini Space Station from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Three research 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 has an average rating of “Hold” and a consensus target price of $10.79.

Gemini Space Station Trading Up 3.4%

The firm’s 50 day moving average is $4.28 and its two-hundred day moving average is $5.18. The firm has a market cap of $510.56 million and a P/E ratio of -0.44.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) earnings per share (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 for the quarter. Analysts predict that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Institutional Trading of Gemini Space Station

A number of large investors have recently made changes to their positions in the company. Commonwealth Bank of Australia acquired a new stake in Gemini Space Station during the 4th quarter worth $7,086,000. SBI Securities Co. Ltd. grew its stake in Gemini Space Station by 362.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock valued at $99,000 after acquiring an additional 7,781 shares during the period. Wells Fargo & Company MN grew its stake in Gemini Space Station by 1,867.9% in the fourth quarter. Wells Fargo & Company MN now owns 51,165 shares of the company’s stock valued at $508,000 after acquiring an additional 48,565 shares during the period. Royal Bank of Canada grew its stake in Gemini Space Station by 1,430.5% in the fourth quarter. Royal Bank of Canada now owns 23,416 shares of the company’s stock valued at $233,000 after acquiring an additional 21,886 shares during the period. Finally, Sandia Investment Management LP bought a new stake in shares of Gemini Space Station in the third quarter worth about $228,000.

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.