The Goldman Sachs Group Lowers Gemini Space Station (NASDAQ:GEMI) Price Target to $5.75

Gemini Space Station (NASDAQ:GEMI) had its price target lowered by investment analysts at The Goldman Sachs Group from $6.50 to $5.75 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 18.07% from the stock’s previous close.

Several other brokerages have also issued reports on GEMI. Needham & Company LLC decreased their price target on shares of Gemini Space Station from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Citigroup lowered shares of Gemini Space Station from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $13.00 to $5.50 in a report on Wednesday, March 18th. Evercore lowered shares of Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 target price on the stock. in a report on Friday, February 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a report on Monday, December 29th. Finally, Morgan Stanley reduced their target price on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.30.

Gemini Space Station Trading Up 8.7%

Shares of Gemini Space Station stock opened at $4.87 on Wednesday. The firm has a market capitalization of $572.96 million and a PE ratio of -1.61. The firm’s 50 day moving average is $6.45 and its 200 day moving average is $11.84. Gemini Space Station has a 1 year low of $3.91 and a 1 year high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The company had revenue of $60.34 million for the quarter.

Insiders Place Their Bets

In other Gemini Space Station news, Director Sachin Chand Jaitly sold 39,708 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total transaction of $354,195.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Gemini Space Station

A number of institutional investors have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $38,815,000. Altimeter Capital Management LP bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $38,336,000. UBS Group AG bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $31,994,000. Vanguard Group Inc. bought a new stake in shares of Gemini Space Station in the 3rd quarter valued at $25,656,000. Finally, Commonwealth Bank of Australia bought a new stake in shares of Gemini Space Station in the 4th quarter valued at $7,086,000.

Gemini Space Station News Summary

Here are the key news stories impacting Gemini Space Station this week:

• Positive Sentiment: Reports that potential buyers are evaluating partial acquisitions of Gemini’s exchange and that bidders may seek to buy parts of the firm (including European operations) are driving optimism about value-realization and strategic exits. Gemini may sell parts of Europe business as buyers seek licenses: CoinDesk
• Positive Sentiment: Multiple outlets report takeover interest in parts of the company, which appears to have triggered a share-price uptick as investors price in potential asset sales or carve-outs. Gemini Space Station jumps on report of takeover interest for parts of firm
• Positive Sentiment: Coverage repeating CoinDesk’s take that buyers are evaluating a partial acquisition of Gemini’s exchange business — another confirmation that market participants are discussing strategic transactions. Potential Buyers Evaluate Partial Acquisition of Gemini Exchange: CoinDesk
• Neutral Sentiment: Goldman Sachs lowered its price target from $6.50 to $5.75 and kept a “neutral” rating — this trims upside expectations but does not represent a downgrade to sell. Investors should weigh the reduced target against takeover speculation. GEMI price target lowered by Goldman Sachs
• Negative Sentiment: Several law firms (Hagens Berman, Pomerantz, Bernstein Liebhard, Faruqi & Faruqi, ClaimsFiler and others) announced or reminded investors of securities class action litigation tied to the IPO and disclosures, increasing potential legal liability and ongoing headline risk. Gemini Space Station (GEMI) Facing Securities Class Action – Hagens Berman
• Negative Sentiment: Multiple additional class-action notices and deadline alerts from law firms and investor-services (Pomerantz, ClaimsFiler, Bernstein Liebhard, Faruqi & Faruqi) amplify litigation headlines and may pressure the stock until legal exposure is resolved or quantified. Gemini Space Station, Inc. Shareholders Opportunity to Lead Securities Fraud Lawsuit

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.