Gemini Space Station (NASDAQ:GEMI) Hits New 52-Week Low After Analyst Downgrade

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price hit 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. The stock had previously closed at $10.63.

A number of other analysts have also commented on GEMI. Cantor Fitzgerald lowered their target price on shares of Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Evercore ISI began coverage on Gemini Space Station in a research report on Tuesday, October 7th. They issued an “outperform” rating and a $30.00 price target on the stock. Truist Financial decreased their price objective on Gemini Space Station from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Zacks Research raised Gemini Space Station to a “hold” rating in a research note on Wednesday, October 8th. Finally, Rosenblatt Securities started coverage on Gemini Space Station in a report on Tuesday, October 7th. They set a “buy” rating and a $30.00 target price on the stock. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.09.

Institutional Investors Weigh In On Gemini Space Station

Several large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in shares of Gemini Space Station during the 3rd quarter valued at about $51,000. National Bank of Canada FI acquired a new stake 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 worth approximately $201,000. Sandia Investment Management LP bought a new position in Gemini Space Station in the third quarter valued at approximately $228,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Gemini Space Station in the third quarter valued at approximately $229,000.

Gemini Space Station Trading Up 1.3%

The company’s fifty day moving average is $19.09.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The company had revenue of $50.62 million for the quarter, compared to analyst estimates 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.