Gemini Space Station (NASDAQ:GEMI) Stock Price Down 7% – Time to Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI) shares were down 7% on Tuesday . The company traded as low as $4.49 and last traded at $4.4750. 519,003 shares were traded during trading, a decline of 73% from the average session volume of 1,919,137 shares. The stock had previously closed at $4.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Gemini Space Station from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Cantor Fitzgerald dropped their target price on shares of Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, August 17th. Morgan Stanley decreased their price target on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Citigroup lowered their price objective on shares of Gemini Space Station from $4.00 to $3.20 and set a “sell” rating for the company in a research note on Thursday, August 20th. Finally, The Goldman Sachs Group boosted their target price on Gemini Space Station from $3.50 to $4.00 and gave the stock a “sell” rating in a research note on Wednesday, September 9th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.84.

Gemini Space Station Trading Down 7.0%

The firm has a market capitalization of $580.18 million and a PE ratio of -0.46. The company has a fifty day moving average price of $4.30 and a two-hundred day moving average price of $4.90.

Gemini Space Station (NASDAQ:GEMI) last announced its earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.18). The business had revenue of $45.48 million for the quarter. Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%. As a group, equities research 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

Several institutional investors have recently bought and sold shares of GEMI. WINTON GROUP Ltd acquired a new position in shares of Gemini Space Station during the second quarter worth about $130,000. ParaFi Capital LP boosted its position in Gemini Space Station by 430.7% during the second quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock worth $14,607,000 after purchasing an additional 2,782,786 shares in the last quarter. Gryphon Financial Partners LLC purchased a new stake in shares of Gemini Space Station in the 1st quarter worth about $145,000. Apollon Wealth Management LLC purchased a new stake in shares of Gemini Space Station in the 1st quarter worth about $44,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Gemini Space Station during the 4th quarter valued at about $88,000.

About Gemini Space Station

Gemini Space Station, Inc, doing business as Gemini, is a cryptocurrency platform that provides digital-asset trading, custody and related financial services to retail and institutional customers. Its platform enables users to buy, sell, store and transfer cryptocurrencies and access market data and portfolio-management tools.

The company has also offered institutional services, including custody, execution and clearing solutions, as well as products designed to support staking and other digital-asset activities.