Gemini Space Station (NASDAQ:GEMI) Trading Down 6.5% – Time to Sell?

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price traded down 6.5% on Tuesday . The company traded as low as $9.85 and last traded at $10.07. 216,390 shares changed hands during trading, a decline of 93% from the average session volume of 3,064,167 shares. The stock had previously closed at $10.77.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GEMI shares. Citigroup assumed coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They issued a “neutral” rating and a $26.00 target price on the stock. Evercore ISI began coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They issued an “outperform” rating and a $30.00 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They set a “market perform” rating and a $27.00 price objective for the company. Zacks Research raised Gemini Space Station to a “hold” rating in a research note on Wednesday, October 8th. Finally, Mizuho assumed coverage on Gemini Space Station in a report on Tuesday, October 7th. They set an “outperform” rating and a $30.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.09.

Gemini Space Station Stock Down 5.0%

The company has a 50-day moving average of $19.09.

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

Institutional Investors Weigh In On Gemini Space Station

Several hedge funds have recently bought and sold shares of the business. Alpine Global Management LLC purchased a new position in shares of Gemini Space Station during the third quarter valued at approximately $240,000. Woodline Partners LP purchased a new stake in shares of Gemini Space Station in the 3rd quarter worth approximately $3,832,000. Zimmer Partners LP bought a new position in Gemini Space Station during the 3rd quarter valued at approximately $599,000. Steadfast Capital Management LP purchased a new position in Gemini Space Station during the third quarter valued at $4,792,000. Finally, Pantera Capital Partners LP bought a new stake in Gemini Space Station in the third quarter worth $2,225,000.

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.