Gemini Space Station (NASDAQ:GEMI) Stock Price Up 11% – What’s Next?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price rose 11% during trading on Wednesday . The stock traded as high as $10.77 and last traded at $10.77. Approximately 964,359 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 2,936,386 shares. The stock had previously closed at $9.70.

Wall Street Analysts Forecast Growth

GEMI has been the subject of several recent analyst reports. Citigroup assumed coverage on Gemini Space Station in a research note on Tuesday, October 7th. They issued a “neutral” rating and a $26.00 price target for the company. Evercore ISI lowered their price target on Gemini Space Station from $30.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. Cantor Fitzgerald decreased their target price on Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Mizuho started coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Zacks Research upgraded shares of Gemini Space Station to a “hold” rating in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gemini Space Station presently has an average rating of “Moderate Buy” and a consensus target price of $26.73.

Gemini Space Station Stock Up 10.3%

The stock’s 50-day simple moving average is $18.05.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The business had revenue of $50.62 million for the quarter, compared to analysts’ expectations of $45.87 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dragoneer Investment Group LLC bought a new stake in shares of Gemini Space Station in the third quarter worth $38,815,000. Altimeter Capital Management LP bought a new position in shares of Gemini Space Station in the 3rd quarter worth $38,336,000. UBS Group AG bought a new stake in Gemini Space Station during the 3rd quarter valued at $31,994,000. Vanguard Group Inc. bought a new position in shares of Gemini Space Station in the third quarter valued at $25,656,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Gemini Space Station during the third quarter valued at about $9,547,000.

Gemini Space Station Company Profile

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.