Gemini Space Station (NASDAQ:GEMI) Price Target Cut to $23.00 by Analysts at Needham & Company LLC

Gemini Space Station (NASDAQ:GEMI) had its price objective trimmed by Needham & Company LLC from $35.00 to $23.00 in a research report report published on Monday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group lowered their target price on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Mizuho decreased their price objective on Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, December 24th. Weiss Ratings restated a “sell (d)” rating on shares of Gemini Space Station in a report on Tuesday, December 23rd. Keefe, Bruyette & Woods assumed coverage on Gemini Space Station in a report on Tuesday, October 7th. They issued a “market perform” rating and a $27.00 target price for the company. Finally, Citigroup lowered their price target on shares of Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Gemini Space Station currently has an average rating of “Hold” and an average target price of $22.45.

Gemini Space Station Trading Down 3.9%

NASDAQ:GEMI opened at $10.23 on Monday. The business’s 50-day moving average price is $13.53. Gemini Space Station has a 1-year low of $9.67 and a 1-year high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Monday, November 10th. The company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The business had revenue of $50.62 million for the quarter, compared to analysts’ expectations of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEMI. SBI Securities Co. Ltd. purchased a new position in shares of Gemini Space Station in the third quarter worth $51,000. National Bank of Canada FI purchased a new position in Gemini Space Station in the 3rd quarter worth about $123,000. Man Group plc bought a new position in Gemini Space Station during the 3rd quarter valued at about $201,000. Sandia Investment Management LP purchased a new stake in shares of Gemini Space Station during the 3rd quarter valued at about $228,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Gemini Space Station during the 3rd quarter valued at about $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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.