Truist Financial Cuts Gemini Space Station (NASDAQ:GEMI) Price Target to $17.00

Gemini Space Station (NASDAQ:GEMI) had its target price reduced by stock analysts at Truist Financial from $28.00 to $17.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 67.16% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Gemini Space Station to a “hold” rating in a report on Wednesday, October 8th. Wall Street Zen lowered Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Needham & Company LLC lowered their price target on Gemini Space Station from $42.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Cantor Fitzgerald cut their price objective on shares of Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. Finally, Evercore ISI started coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They issued an “outperform” rating and a $30.00 target price for the company. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.09.

Gemini Space Station Price Performance

GEMI stock traded down $0.60 during trading on Tuesday, hitting $10.17. The company had a trading volume of 661,924 shares, compared to its average volume of 3,075,641. Gemini Space Station has a 52-week low of $9.85 and a 52-week high of $45.89. The firm has a 50 day moving average of $19.09.

Gemini Space Station (NASDAQ:GEMI) last issued its earnings results on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates 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.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Gemini Space Station during the third quarter worth about $51,000. National Bank of Canada FI purchased a new position in Gemini Space Station during the 3rd quarter worth approximately $123,000. Man Group plc acquired a new stake in Gemini Space Station during the 3rd quarter valued at approximately $201,000. Sandia Investment Management LP purchased a new stake in shares of Gemini Space Station in the 3rd quarter valued at $228,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Gemini Space Station in the 3rd quarter valued at $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.