Gemini Space Station (NASDAQ:GEMI) Hits New 12-Month Low After Analyst Downgrade

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price reached a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $22.00 to $19.00. The Goldman Sachs Group currently has a neutral rating on the stock. Gemini Space Station traded as low as $10.05 and last traded at $10.06, with a volume of 1107140 shares changing hands. The stock had previously closed at $10.63.

GEMI has been the subject of several other reports. Citigroup started coverage on Gemini Space Station in a research note on Tuesday, October 7th. They set a “neutral” rating and a $26.00 price objective for the company. Cantor Fitzgerald lowered their target price on shares of Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, November 14th. Evercore ISI started coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They set an “outperform” rating and a $30.00 target price for the company. Keefe, Bruyette & Woods initiated coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They issued a “market perform” rating and a $27.00 price target on the stock. Finally, Truist Financial lowered their price target on shares of Gemini Space Station from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Gemini Space Station presently has an average rating of “Moderate Buy” and an average price target of $29.09.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alpine Global Management LLC acquired a new position in shares of Gemini Space Station during the 3rd quarter valued at about $240,000. Woodline Partners LP purchased a new position in Gemini Space Station during the third quarter worth about $3,832,000. Zimmer Partners LP acquired a new position in Gemini Space Station in the 3rd quarter valued at about $599,000. Steadfast Capital Management LP purchased a new stake in shares of Gemini Space Station in the 3rd quarter valued at approximately $4,792,000. Finally, Pantera Capital Partners LP acquired a new stake in shares of Gemini Space Station during the 3rd quarter worth approximately $2,225,000.

Gemini Space Station Stock Performance

The company’s 50-day moving average is $19.29.

Gemini Space Station (NASDAQ:GEMI) last posted 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 business had revenue of $50.62 million during the quarter, compared to the consensus estimate of $45.87 million.

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.