Gemini Space Station (NASDAQ:GEMI) Stock Price Up 6.7% – Still a Buy?

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) rose 6.7% during mid-day trading on Monday . The company traded as high as $4.62 and last traded at $4.5680. Approximately 1,531,786 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 1,866,572 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GEMI. Truist Financial cut their price objective 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. Weiss Ratings downgraded Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Rosenblatt Securities dropped their target price on Gemini Space Station from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Morgan Stanley cut their price target on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Finally, Mizuho set a $7.00 price target on shares of Gemini Space Station in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.79.

Gemini Space Station Trading Up 11.2%

The firm has a fifty day moving average price of $4.26 and a 200 day moving average price of $5.12. The firm has a market cap of $604.18 million and a PE ratio of -0.48.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.18). Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. The firm had revenue of $45.48 million for the quarter. As a group, equities analysts predict that Gemini Space Station, Inc. will post -3.37 earnings per share for the current year.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently made changes to their positions in the stock. Commonwealth Bank of Australia acquired a new stake in shares of Gemini Space Station during the fourth quarter worth about $7,086,000. SBI Securities Co. Ltd. lifted its holdings in Gemini Space Station by 362.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock worth $99,000 after buying an additional 7,781 shares in the last quarter. Gryphon Financial Partners LLC acquired a new stake in Gemini Space Station during the 1st quarter worth approximately $145,000. Hsbc Holdings PLC purchased a new position in Gemini Space Station in the 4th quarter valued at approximately $174,000. Finally, Invesco Ltd. purchased a new position in Gemini Space Station in the 4th quarter valued at approximately $173,000.

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.