Gemini Space Station (NASDAQ:GEMI) Posts Earnings Results, Beats Expectations By $0.67 EPS

Gemini Space Station (NASDAQ:GEMI) released its earnings results on Thursday. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.67, FiscalAI reports. The firm had revenue of $40.88 million during the quarter. Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%.

Gemini Space Station Stock Performance

Gemini Space Station stock traded down $0.10 during midday trading on Thursday, reaching $2.62. The stock had a trading volume of 1,597,828 shares, compared to its average volume of 2,004,759. The stock’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $4.97. Gemini Space Station has a twelve month low of $2.31 and a twelve month high of $15.27. The stock has a market capitalization of $339.68 million, a PE ratio of -0.27 and a beta of 2.75.

Analysts Set New Price Targets

GEMI has been the topic of a number of research analyst reports. Needham & Company LLC decreased their price target on Gemini Space Station from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Mizuho set a $7.00 price target on Gemini Space Station in a report on Monday, August 17th. Citigroup raised shares of Gemini Space Station from a “sell” rating to a “neutral” rating and upped their price objective for the company from $3.20 to $4.75 in a research note on Tuesday, October 13th. Cantor Fitzgerald cut their price objective on shares of Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday, August 17th. Finally, Weiss Ratings cut shares of Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.67.

Hedge Funds Weigh In On Gemini Space Station

A number of large investors have recently modified their holdings of the company. ParaFi Capital LP lifted its stake in shares of Gemini Space Station by 430.7% in the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock valued at $14,607,000 after purchasing an additional 2,782,786 shares in the last quarter. Ieq Capital LLC purchased a new position in Gemini Space Station in the third quarter valued at approximately $914,000. Russell Investments Group Ltd. raised its holdings in Gemini Space Station by 5,222.0% in the third quarter. Russell Investments Group Ltd. now owns 174,456 shares of the company’s stock valued at $900,000 after buying an additional 171,178 shares during the period. Gryphon Financial Partners LLC acquired a new position in Gemini Space Station during the third quarter valued at approximately $169,000. Finally, WINTON GROUP Ltd acquired a new position in Gemini Space Station during the second quarter valued at approximately $130,000.

About Gemini Space Station

Gemini Space Station, Inc. operates a cryptocurrency platform offering services to individual and institutional customers. Its products include digital-asset trading and custody, along with tools and services for institutions. Founded in 2014 by Cameron and Tyler Winklevoss, the company is based in New York. Gemini also issues the Gemini dollar, a U.S. dollar–pegged stablecoin. Gemini serves customers in the United States and select international markets, with product availability varying by location and local regulations.