Needham & Company LLC Cuts Gemini Space Station (NASDAQ:GEMI) Price Target to $6.00

Gemini Space Station (NASDAQ:GEMI) had its price target dropped by equities research analysts at Needham & Company LLC from $8.00 to $6.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 53.06% from the stock’s previous close.

Several other research firms have also recently weighed in on GEMI. Citigroup cut their price target on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, April 28th. Truist Financial decreased their target price on Gemini Space Station from $5.00 to $4.50 and set a “hold” rating for the company in a research report on Friday, July 24th. Cantor Fitzgerald dropped their price target on Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday. The Goldman Sachs Group downgraded Gemini Space Station from a “neutral” rating to a “sell” rating and set a $4.00 price target for the company. in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.36.

Gemini Space Station Stock Performance

NASDAQ GEMI opened at $3.92 on Monday. The company has a market cap of $467.62 million and a P/E ratio of -0.40. The company has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $5.32. Gemini Space Station has a 12-month low of $3.74 and a 12-month high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.18). The business had revenue of $45.48 million during the quarter. Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. Sell-side analysts predict that Gemini Space Station will post -3.37 EPS for the current year.

Institutional Trading of Gemini Space Station

Several institutional investors and hedge funds have recently bought and sold shares of GEMI. UBS Group AG bought a new stake in Gemini Space Station during the third quarter valued at $31,994,000. Vanguard Group Inc. purchased a new position in Gemini Space Station in the 3rd quarter worth approximately $25,656,000. Commonwealth Bank of Australia purchased a new stake in shares of Gemini Space Station during the 4th quarter valued at $7,086,000. Geode Capital Management LLC grew its position in Gemini Space Station by 1,220.7% in the fourth quarter. Geode Capital Management LLC now owns 484,571 shares of the company’s stock worth $4,808,000 after acquiring an additional 447,881 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Gemini Space Station during the third quarter valued at about $9,547,000.

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