Gemini Space Station (NASDAQ:GEMI) Trading 8.8% Higher – Here’s Why

Gemini Space Station, Inc. (NASDAQ:GEMI) shares traded up 8.8% during mid-day trading on Monday . The stock traded as high as $6.58 and last traded at $6.56. 488,458 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 1,467,532 shares. The stock had previously closed at $6.03.

Analyst Ratings Changes

GEMI has been the subject of several recent research reports. Truist Financial cut Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, February 17th. The Goldman Sachs Group reduced their price target on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Rosenblatt Securities lowered their price objective on shares of Gemini Space Station from $26.00 to $11.50 and set a “buy” rating on the stock in a report on Friday, February 20th. Citigroup cut their price objective on shares of Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Finally, Evercore downgraded shares of Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 target price for the company. in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.68.

Gemini Space Station Price Performance

The stock has a market capitalization of $776.49 million and a price-to-earnings ratio of -3.65. The company’s 50 day simple moving average is $8.94.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Aristides Capital LLC acquired a new stake in Gemini Space Station in the 4th quarter valued at about $164,000. Invesco Ltd. bought a new stake in Gemini Space Station in the fourth quarter valued at approximately $173,000. Quadrature Capital Ltd bought a new stake in Gemini Space Station in the fourth quarter valued at approximately $160,000. Engineers Gate Manager LP acquired a new stake in shares of Gemini Space Station in the fourth quarter valued at approximately $100,000. Finally, North Reef Capital Management LP boosted its stake in shares of Gemini Space Station by 22.3% during the 4th quarter. North Reef Capital Management LP now owns 300,000 shares of the company’s stock worth $2,976,000 after acquiring an additional 54,678 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.