Gemini Space Station (NASDAQ:GEMI) Reaches New 1-Year Low After Earnings Miss

Gemini Space Station, Inc. (NASDAQ:GEMI) reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The stock traded as low as $14.08 and last traded at $14.17, with a volume of 2036771 shares changing hands. The stock had previously closed at $16.84.

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 analyst estimates of $45.87 million.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEMI. Needham & Company LLC decreased their price objective on shares of Gemini Space Station from $42.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial lowered their price target on Gemini Space Station from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Zacks Research upgraded Gemini Space Station to a “hold” rating in a report on Wednesday, October 8th. Cantor Fitzgerald started coverage on Gemini Space Station in a report on Tuesday, October 7th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Keefe, Bruyette & Woods began 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 target on the stock. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Gemini Space Station has a consensus rating of “Moderate Buy” and a consensus target price of $30.73.

Hedge Funds Weigh In On Gemini Space Station

A number of institutional investors and hedge funds have recently made changes to their positions in GEMI. SBI Securities Co. Ltd. purchased a new position in Gemini Space Station during the 3rd quarter worth approximately $51,000. Ground Swell Capital LLC acquired a new stake in shares of Gemini Space Station in the third quarter valued at approximately $229,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Gemini Space Station during the third quarter worth approximately $248,000. SG Americas Securities LLC purchased a new position in shares of Gemini Space Station during the third quarter worth approximately $325,000. Finally, TD Asset Management Inc acquired a new position in shares of Gemini Space Station in the 3rd quarter valued at $415,000.

Gemini Space Station Price Performance

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.