Gemini Space Station (NASDAQ:GEMI) Reaches New 1-Year Low – Here’s What Happened

Gemini Space Station, Inc. (NASDAQ:GEMI) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.67 and last traded at $9.92, with a volume of 606909 shares traded. The stock had previously closed at $9.94.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Gemini Space Station to a “hold” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods began coverage on Gemini Space Station in a report on Tuesday, October 7th. They set a “market perform” rating and a $27.00 price objective on the stock. Citigroup dropped their target price on Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Morgan Stanley reduced their price target on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, December 22nd. Finally, Needham & Company LLC lowered their price objective on shares of Gemini Space Station from $35.00 to $23.00 and set a “buy” rating for the company in a report on Monday. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.45.

Gemini Space Station Price Performance

The stock has a 50 day moving average of $13.32.

Gemini Space Station (NASDAQ:GEMI) last issued its earnings results on Monday, November 10th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The firm had revenue of $50.62 million for the quarter, compared to analysts’ expectations of $45.87 million.

Hedge Funds Weigh In On Gemini Space Station

Several hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Gemini Space Station in the third quarter worth about $51,000. National Bank of Canada FI purchased a new position in shares of Gemini Space Station during the third quarter valued at approximately $123,000. Man Group plc purchased a new position in shares of Gemini Space Station during the third quarter valued at approximately $201,000. Sandia Investment Management LP purchased a new position in shares of Gemini Space Station during the third quarter valued at approximately $228,000. Finally, Ground Swell Capital LLC purchased a new stake in Gemini Space Station in the third quarter worth $229,000.

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.