Gemini Space Station (NASDAQ:GEMI) Trading Up 11% – Here’s Why

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Cantor Fitzgerald decreased their price objective on Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. Keefe, Bruyette & Woods initiated coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They set a “market perform” rating and a $27.00 price target on the stock. The Goldman Sachs Group lowered their price objective on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday. Wall Street Zen cut Gemini Space Station from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Truist Financial decreased their target price on Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Gemini Space Station has an average rating of “Moderate Buy” and an average price target of $26.55.

Gemini Space Station Stock Down 3.5%

The firm has a 50 day moving average of $17.27.

Gemini Space Station (NASDAQ:GEMI) last posted its 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 during the quarter, compared to analysts’ expectations of $45.87 million.

Institutional Trading of Gemini Space Station

Institutional investors have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC bought a new position in Gemini Space Station in the third quarter worth about $38,815,000. Altimeter Capital Management LP acquired a new stake in Gemini Space Station in the 3rd quarter valued at about $38,336,000. UBS Group AG bought a new stake in Gemini Space Station during the third quarter worth approximately $31,994,000. Vanguard Group Inc. purchased a new stake 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 in the 3rd 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.