Gemini Space Station (NASDAQ:GEMI) Stock Price Down 5.4% – Here’s What Happened

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) were down 5.4% on Wednesday . The company traded as low as $10.68 and last traded at $10.82. Approximately 218,399 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 2,838,934 shares. The stock had previously closed at $11.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities assumed coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They issued a “buy” rating and a $30.00 price target on the stock. Wall Street Zen downgraded shares of Gemini Space Station from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Morgan Stanley initiated coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $29.00 price target for the company. Citigroup started coverage on Gemini Space Station in a research report on Tuesday, October 7th. They issued a “neutral” rating and a $26.00 price target for the company. Finally, Evercore ISI decreased their price objective on Gemini Space Station from $30.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.55.

Gemini Space Station Stock Down 11.8%

The firm has a 50 day moving average of $16.36.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The business had revenue of $50.62 million during the quarter, compared to the consensus estimate of $45.87 million.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GEMI. North Reef Capital Management LP bought a new position in Gemini Space Station in the 3rd quarter worth about $5,878,000. Dragoneer Investment Group LLC purchased a new stake in shares of Gemini Space Station in the third quarter valued at approximately $38,815,000. Altimeter Capital Management LP purchased a new stake in shares of Gemini Space Station in the third quarter valued at approximately $38,336,000. Atreides Management LP bought a new position in Gemini Space Station in the third quarter worth approximately $1,677,000. Finally, Ghisallo Capital Management LLC purchased a new position in Gemini Space Station during the 3rd quarter worth $1,677,000.

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.