Gemini Space Station (NASDAQ:GEMI) Trading Up 10.5% – Time to Buy?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares traded up 10.5% during mid-day trading on Tuesday . The company traded as high as $9.28 and last traded at $9.6210. 270,058 shares changed hands during trading, a decline of 83% from the average session volume of 1,546,602 shares. The stock had previously closed at $8.71.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Mizuho dropped their target price on shares of Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, December 24th. Needham & Company LLC cut their price target on shares of Gemini Space Station from $23.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Evercore lowered shares of Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 price target on the stock. in a report on Friday, February 6th. Finally, Morgan Stanley lowered their price objective on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Gemini Space Station presently has an average rating of “Hold” and an average price target of $16.68.

Gemini Space Station Price Performance

The business’s 50-day moving average price is $8.54. The firm has a market cap of $1.02 billion and a price-to-earnings ratio of -4.77.

Institutional Investors Weigh In On Gemini Space Station

Institutional investors have recently bought and sold shares of the stock. Dragoneer Investment Group LLC bought a new position in Gemini Space Station during the 3rd quarter worth approximately $38,815,000. Altimeter Capital Management LP bought a new stake in Gemini Space Station in the third quarter valued at approximately $38,336,000. UBS Group AG bought a new stake in Gemini Space Station in the third quarter valued at approximately $31,994,000. Vanguard Group Inc. purchased a new stake in shares of Gemini Space Station during the third quarter valued at approximately $25,656,000. Finally, Commonwealth Bank of Australia bought a new position in shares of Gemini Space Station in the fourth quarter worth approximately $7,086,000.

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.