Gemini Space Station (NASDAQ:GEMI) Stock Price Up 7.5% – What’s Next?

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) shot up 7.5% on Wednesday . The stock traded as high as $4.60 and last traded at $4.6650. Approximately 171,802 shares were traded during trading, a decline of 91% from the average daily volume of 1,867,318 shares. The stock had previously closed at $4.34.

Analysts Set New Price Targets

GEMI has been the subject of a number of research reports. Morgan Stanley dropped their target price 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. Needham & Company LLC lowered their price objective on shares of 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. The Goldman Sachs Group decreased their target price on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Mizuho dropped their price target on Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating for the company in a research note 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 equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.48.

Gemini Space Station Price Performance

The company has a market capitalization of $552.91 million and a P/E ratio of -1.17. The company has a 50 day moving average of $4.70 and a 200-day moving average of $6.34.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The business had revenue of $50.27 million during the quarter. Gemini Space Station’s revenue was up 38.3% on a year-over-year basis. Research analysts predict that Gemini Space Station, Inc. will post -3.37 EPS for the current fiscal year.

Institutional Trading of Gemini Space Station

Large investors have recently added to or reduced their stakes in the stock. North Reef Capital Management LP bought a new position in shares of Gemini Space Station during the 3rd quarter worth approximately $5,878,000. Commonwealth Bank of Australia acquired a new stake in Gemini Space Station in the fourth quarter valued at approximately $7,086,000. SBI Securities Co. Ltd. grew its holdings 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 worth $99,000 after purchasing an additional 7,781 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Gemini Space Station in the third quarter worth $647,000. Finally, Alpine Global Management LLC acquired a new position in shares of Gemini Space Station during the third quarter worth $240,000.

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.