Gemini Space Station (NASDAQ:GEMI) Shares Down 5.8% – Should You Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price traded down 5.8% during mid-day trading on Tuesday . The stock traded as low as $4.81 and last traded at $4.86. 1,356,245 shares were traded during mid-day trading, a decline of 29% from the average session volume of 1,911,595 shares. The stock had previously closed at $5.16.

Analyst Ratings Changes

GEMI has been the topic of several research analyst reports. Citigroup reduced their price objective on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a research note on Tuesday, April 28th. The Goldman Sachs Group dropped their price target on Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Mizuho dropped their price target on Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $8.00 price objective (down from $14.00) on shares of Gemini Space Station in a research report on Wednesday, February 18th. Finally, Morgan Stanley reduced their target price on Gemini Space Station from $13.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.52.

Gemini Space Station Price Performance

The stock has a market cap of $572.33 million and a price-to-earnings ratio of -1.20. The firm has a 50 day simple moving average of $4.99 and a two-hundred day simple moving average of $8.26.

Gemini Space Station (NASDAQ:GEMI) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The company had revenue of $50.27 million during the quarter. The company’s quarterly revenue was up 38.3% on a year-over-year basis. On average, sell-side analysts expect that Gemini Space Station, Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Activity at Gemini Space Station

In other news, Director Sachin Chand Jaitly sold 39,708 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $8.92, for a total transaction of $354,195.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GEMI. Gryphon Financial Partners LLC acquired a new position in Gemini Space Station during the 1st quarter worth approximately $145,000. Apollon Wealth Management LLC bought a new position in Gemini Space Station during the first quarter valued at $44,000. Hsbc Holdings PLC bought a new position in shares of Gemini Space Station in the fourth quarter worth $174,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Gemini Space Station in the fourth quarter worth $88,000. Finally, Aristides Capital LLC purchased a new stake in Gemini Space Station during the fourth quarter valued at about $164,000.

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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.