Gemini Space Station (NASDAQ:GEMI) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Gemini Space Station (NASDAQ:GEMI) from a strong sell rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

A number of other analysts have also commented on the company. Keefe, Bruyette & Woods raised Gemini Space Station to a “hold” rating in a report on Tuesday, September 29th. Citigroup raised Gemini Space Station from a “sell” rating to a “neutral” rating and increased their price objective for the company from $3.20 to $4.75 in a research report on Tuesday, October 13th. Truist Financial reduced their price objective on Gemini Space Station from $4.50 to $3.50 and set a “hold” rating for the company in a report on Friday, October 23rd. Needham & Company LLC dropped their price target on Gemini Space Station from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Finally, Morgan Stanley cut shares of Gemini Space Station from an “equal weight” rating to an “underweight” rating and set a $4.75 target price for the company. in a report on Friday, October 9th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.67.

Gemini Space Station Trading Down 9.2%

NASDAQ:GEMI traded down $0.24 on Friday, reaching $2.38. 2,419,364 shares of the stock traded hands, compared to its average volume of 1,827,653. The company has a market capitalization of $308.57 million, a price-to-earnings ratio of -0.68 and a beta of 2.75. Gemini Space Station has a 12 month low of $2.31 and a 12 month high of $15.27. The company’s fifty day simple moving average is $3.99 and its 200 day simple moving average is $4.90.

Gemini Space Station (NASDAQ:GEMI) last issued its earnings results on Friday, November 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.67. The business had revenue of $40.88 million during the quarter. Gemini Space Station had a negative net margin of 211.28% and a negative return on equity of 90.47%. Equities analysts anticipate that Gemini Space Station will post -3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Gemini Space Station

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ParaFi Capital LP boosted its position in shares of Gemini Space Station by 430.7% in the second quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock worth $14,607,000 after purchasing an additional 2,782,786 shares during the period. Marshall Wace LLP raised its position in shares of Gemini Space Station by 2.5% during the 3rd quarter. Marshall Wace LLP now owns 1,471,449 shares of the company’s stock valued at $7,593,000 after purchasing an additional 35,415 shares during the period. Ieq Capital LLC bought a new stake in shares of Gemini Space Station during the 3rd quarter valued at $914,000. Russell Investments Group Ltd. raised its position in shares of Gemini Space Station by 5,222.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 174,456 shares of the company’s stock valued at $900,000 after purchasing an additional 171,178 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in shares of Gemini Space Station by 64.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 59,125 shares of the company’s stock valued at $305,000 after buying an additional 23,235 shares in the last quarter.

Trending Headlines about Gemini Space Station

Here are a few of the latest headlines about GEMI:

• Positive Sentiment: Gemini’s quarterly loss was narrower than a year earlier and better than analysts expected, while operating expenses declined 30% year over year. That combination may support optimism about efforts to reduce losses. Zacks earnings report
• Neutral Sentiment: Services revenue and interest income made up 59% of net revenue, showing some diversification beyond trading. Gemini also reportedly sold its U.K. and European businesses to KAST for under $10 million; the deal could help streamline operations, though the reported sale price is modest. Gemini Q3 results Report on U.K. and European unit sale
• Negative Sentiment: Revenue fell 19% to $40.9 million and missed estimates, as platform spot trading volume plunged 73% year over year. The steep decline highlights Gemini’s exposure to weaker trading activity and may offset the benefit of lower expenses and a smaller loss. Article on revenue and trading volume

Gemini Space Station Company Profile

Gemini Space Station, Inc. operates a cryptocurrency platform offering services to individual and institutional customers. Its products include digital-asset trading and custody, along with tools and services for institutions. Founded in 2014 by Cameron and Tyler Winklevoss, the company is based in New York. Gemini also issues the Gemini dollar, a U.S. dollar–pegged stablecoin. Gemini serves customers in the United States and select international markets, with product availability varying by location and local regulations.