Gemini Space Station (NASDAQ:GEMI) Shares Gap Down Following Analyst Downgrade

Gemini Space Station, Inc. (NASDAQ:GEMI) gapped down before the market opened on Tuesday after Truist Financial downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $7.56, but opened at $6.98. Truist Financial now has a $7.00 price target on the stock. Gemini Space Station shares last traded at $6.65, with a volume of 454,862 shares traded.

Several other brokerages have also issued reports on GEMI. The Goldman Sachs Group decreased their price target on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Citigroup decreased their target price on Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Mizuho dropped their target price on shares of Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, December 24th. Cantor Fitzgerald decreased their price target on shares of Gemini Space Station from $25.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Finally, Needham & Company LLC dropped their price objective on shares of Gemini Space Station from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Gemini Space Station presently has a consensus rating of “Hold” and a consensus target price of $20.09.

Institutional Trading of Gemini Space Station

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in Gemini Space Station during the 3rd quarter worth $51,000. National Bank of Canada FI acquired a new position in shares of Gemini Space Station in the third quarter worth approximately $123,000. Aristides Capital LLC bought a new stake in Gemini Space Station in the fourth quarter valued at approximately $164,000. Man Group plc acquired a new stake in Gemini Space Station during the 3rd quarter valued at approximately $201,000. Finally, Clear Street Group Inc. bought a new position in Gemini Space Station during the 4th quarter worth approximately $219,000.

Gemini Space Station Stock Performance

The firm has a 50-day moving average of $10.00. The stock has a market cap of $764.73 million and a PE ratio of -3.59.

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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.