Gemini Space Station (NASDAQ:GEMI) Shares Up 10.4% – Should You Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price shot up 10.4% on Monday . The company traded as high as $11.49 and last traded at $11.44. 1,111,600 shares traded hands during trading, an increase of 3% from the average session volume of 1,075,434 shares. The stock had previously closed at $10.36.

Wall Street Analysts Forecast Growth

GEMI has been the topic of a number of research analyst reports. Truist Financial decreased their price target on Gemini Space Station from $28.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. The Goldman Sachs Group cut their price objective on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Zacks Research upgraded Gemini Space Station to a “hold” rating in a report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Gemini Space Station in a research report on Thursday, December 11th. Finally, Morgan Stanley reduced their price target on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, December 22nd. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.45.

Gemini Space Station Stock Up 8.7%

The company has a 50 day moving average of $12.76. The stock has a market cap of $1.32 billion and a PE ratio of -6.22.

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

Institutional Investors Weigh In On Gemini Space Station

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC acquired a new position in Gemini Space Station in the third quarter valued at approximately $38,815,000. Altimeter Capital Management LP acquired a new stake in Gemini Space Station during the 3rd quarter worth $38,336,000. UBS Group AG acquired a new stake in Gemini Space Station during the 3rd quarter worth $31,994,000. Vanguard Group Inc. purchased a new stake in Gemini Space Station in the third quarter valued at $25,656,000. Finally, Squarepoint Ops LLC acquired a new position in Gemini Space Station in the third quarter valued at $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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.