Altimeter Capital Management LP Acquires New Shares in Gemini Space Station, Inc. $GEMI

Altimeter Capital Management LP bought a new position in shares of Gemini Space Station, Inc. (NASDAQ:GEMI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,600,000 shares of the company’s stock, valued at approximately $38,336,000. Gemini Space Station comprises 0.5% of Altimeter Capital Management LP’s holdings, making the stock its 20th biggest position. Altimeter Capital Management LP owned about 1.37% of Gemini Space Station at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GEMI. SBI Securities Co. Ltd. acquired a new stake in shares of Gemini Space Station in the third quarter worth about $51,000. Man Group plc acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $201,000. Sandia Investment Management LP bought a new position in shares of Gemini Space Station in the 3rd quarter valued at approximately $228,000. Ground Swell Capital LLC bought a new position in shares of Gemini Space Station in the 3rd quarter valued at approximately $229,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Gemini Space Station in the 3rd quarter worth approximately $248,000.

Gemini Space Station Stock Performance

Shares of Gemini Space Station stock opened at $7.76 on Friday. The firm has a market cap of $912.96 million and a price-to-earnings ratio of -4.29. The company’s 50-day simple moving average is $8.45. Gemini Space Station, Inc. has a twelve month low of $5.57 and a twelve month high of $45.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEMI. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gemini Space Station in a research report on Monday, December 29th. Rosenblatt Securities reduced their price objective on shares of Gemini Space Station from $26.00 to $11.50 and set a “buy” rating for the company in a research note on Friday, February 20th. Needham & Company LLC decreased their price objective on shares of Gemini Space Station from $23.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Truist Financial lowered shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research note on Tuesday, February 17th. Finally, Morgan Stanley dropped their target price on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.68.

Insider Buying and Selling

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

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.