Gemini Space Station (NASDAQ:GEMI) Trading 7.7% Higher – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) shot up 7.7% on Tuesday . The stock traded as high as $4.80 and last traded at $4.8450. Approximately 151,556 shares were traded during trading, a decline of 92% from the average daily volume of 1,846,510 shares. The stock had previously closed at $4.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup reduced their target price on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating for the company in a report on Tuesday, April 28th. The Goldman Sachs Group lowered their price target on Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings raised Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a research note on Monday, June 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $9.00 target price on shares of Gemini Space Station in a research note on Monday, May 18th. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.48.

Gemini Space Station Stock Down 4.4%

The stock has a market cap of $543.96 million and a P/E ratio of -1.15. The firm’s 50-day moving average is $4.65 and its two-hundred day moving average is $6.09.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The business had revenue of $50.27 million for the quarter. Gemini Space Station’s quarterly revenue was up 38.3% compared to the same quarter last year. Analysts anticipate that Gemini Space Station, Inc. will post -3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. bought a new position in Gemini Space Station during the third quarter valued at about $25,656,000. Van ECK Associates Corp bought a new stake in shares of Gemini Space Station during the 3rd quarter worth about $9,328,000. Franklin Resources Inc. bought a new stake in shares of Gemini Space Station during the 3rd quarter worth about $2,963,000. UBS Group AG acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $31,994,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $9,547,000.

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.