Gemini Space Station (NASDAQ:GEMI) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Gemini Space Station (NASDAQ:GEMI) released its earnings results on Thursday. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.18), FiscalAI reports. The business had revenue of $45.48 million during the quarter. Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 72.84%.

Gemini Space Station Trading Down 8.8%

Shares of NASDAQ:GEMI traded down $0.38 during mid-day trading on Friday, reaching $3.92. The company had a trading volume of 3,729,919 shares, compared to its average volume of 1,176,859. The firm has a market cap of $467.62 million and a price-to-earnings ratio of -0.40. The company’s 50-day moving average price is $4.35 and its 200-day moving average price is $5.35. Gemini Space Station has a one year low of $3.74 and a one year high of $45.89.

Analyst Ratings Changes

GEMI has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on Gemini Space Station from $5.00 to $4.50 and set a “hold” rating on the stock in a report on Friday, July 24th. 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. Wall Street Zen cut Gemini Space Station from a “sell” rating to a “strong sell” rating in a research note on Saturday. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 target price on shares of Gemini Space Station in a research note on Monday, May 18th. Finally, Citigroup cut their price target on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.09.

Hedge Funds Weigh In On Gemini Space Station

Several institutional investors and hedge funds have recently bought and sold shares of GEMI. National Bank of Canada FI bought a new stake in shares of Gemini Space Station in the third quarter valued at $123,000. Man Group plc bought a new position in shares of Gemini Space Station during the 3rd quarter worth $201,000. Caitong International Asset Management Co. Ltd purchased a new stake in Gemini Space Station in the 4th quarter worth about $88,000. Sandia Investment Management LP purchased a new stake in Gemini Space Station in the 3rd quarter worth about $228,000. Finally, SBI Securities Co. Ltd. raised its stake in Gemini Space Station by 362.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock valued at $99,000 after acquiring an additional 7,781 shares during the period.

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.