Gemini Space Station (NASDAQ:GEMI) Trading Down 5.8% – Time to Sell?

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GEMI shares. Cantor Fitzgerald restated a “neutral” rating and issued a $8.00 target price (down from $14.00) on shares of Gemini Space Station in a research note on Wednesday, February 18th. Needham & Company LLC reduced their target price on Gemini Space Station from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Evercore lowered 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 report on Friday, February 6th. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 target price on shares of Gemini Space Station in a report on Monday, May 18th. Finally, The Goldman Sachs Group cut their target price on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.52.

Gemini Space Station Stock Performance

The stock’s 50 day simple moving average is $4.99 and its 200 day simple moving average is $8.26. The firm has a market capitalization of $572.33 million and a P/E ratio of -1.20.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The company had revenue of $50.27 million for the quarter. The business’s revenue was up 38.3% compared to the same quarter last year. On average, analysts anticipate that Gemini Space Station, Inc. will post -3.56 earnings per share for the current year.

Insider Buying and Selling at Gemini Space Station

In other Gemini Space Station news, Director Sachin Chand Jaitly sold 39,708 shares of Gemini Space Station stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total transaction of $354,195.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Gemini Space Station during the 3rd quarter worth approximately $51,000. National Bank of Canada FI acquired a new position in shares of Gemini Space Station during the 3rd quarter worth $123,000. Man Group plc purchased a new stake in shares of Gemini Space Station in the 3rd quarter worth about $201,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Gemini Space Station in the 4th quarter worth about $88,000. Finally, Sandia Investment Management LP purchased a new position in Gemini Space Station in the 3rd quarter valued at about $228,000.

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.