Gemini Space Station (NASDAQ:GEMI) Shares Down 5.3% – Should You Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares traded down 5.3% on Friday . The stock traded as low as $4.53 and last traded at $4.5850. Approximately 339,772 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,923,490 shares. The stock had previously closed at $4.84.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEMI. Wall Street Zen lowered shares of Gemini Space Station from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Morgan Stanley decreased their target price on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Citigroup cut their price target on Gemini Space Station from $4.00 to $3.20 and set a “sell” rating on the stock in a report on Thursday, August 20th. Rosenblatt Securities decreased their price objective on Gemini Space Station from $9.00 to $6.00 and set a “buy” rating for the company in a report on Monday, August 17th. Finally, The Goldman Sachs Group cut their target price on Gemini Space Station from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.79.

Gemini Space Station Stock Performance

The firm has a market capitalization of $602.23 million and a P/E ratio of -0.48. The firm has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $4.98.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.18). The firm had revenue of $45.48 million during the quarter. Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%. Sell-side analysts anticipate that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Institutional Investors Weigh In On Gemini Space Station

A number of institutional investors have recently added to or reduced their stakes in GEMI. ParaFi Capital LP lifted its position in shares of Gemini Space Station by 430.7% during the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock worth $14,607,000 after buying an additional 2,782,786 shares in the last quarter. UBS Group AG purchased a new position in shares of Gemini Space Station in the 3rd quarter worth approximately $31,994,000. Vanguard Group Inc. bought a new position in shares of Gemini Space Station in the third quarter valued at approximately $25,656,000. Commonwealth Bank of Australia purchased a new stake in shares of Gemini Space Station during the fourth quarter valued at approximately $7,086,000. Finally, Geode Capital Management LLC increased its position in shares of Gemini Space Station by 1,220.7% during the fourth quarter. Geode Capital Management LLC now owns 484,571 shares of the company’s stock valued at $4,808,000 after acquiring an additional 447,881 shares during the last quarter.

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.