Gemini Space Station (NASDAQ:GEMI) Trading 9.1% Higher – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price traded up 9.1% on Friday . The stock traded as high as $7.47 and last traded at $7.31. 404,388 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,474,799 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

Several research firms have recently commented on GEMI. The Goldman Sachs Group reduced their price target on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Weiss Ratings restated a “sell (d)” rating on shares of Gemini Space Station in a research report on Monday, December 29th. Truist Financial lowered their price target on Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Mizuho cut their price objective on Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, December 24th. Finally, Needham & Company LLC decreased their target price on shares of Gemini Space Station from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.08.

Gemini Space Station Trading Up 14.3%

The company has a 50-day moving average price of $10.15. The firm has a market capitalization of $901.20 million and a price-to-earnings ratio of -4.23.

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

Institutional Trading of Gemini Space Station

Several hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in Gemini Space Station during the 3rd quarter worth $51,000. National Bank of Canada FI purchased a new position in shares of Gemini Space Station in the 3rd quarter valued at about $123,000. Aristides Capital LLC acquired a new position in shares of Gemini Space Station during the fourth quarter worth about $164,000. Man Group plc acquired a new position in shares of Gemini Space Station during the third quarter worth about $201,000. Finally, Sandia Investment Management LP purchased a new stake in shares of Gemini Space Station during the third quarter worth approximately $228,000.

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.