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

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) hit a new 52-week low during trading on Monday after Truist Financial lowered their price target on the stock from $28.00 to $17.00. Truist Financial currently has a buy 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.

Several other equities research analysts have also recently commented on GEMI. Morgan Stanley began coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $29.00 target price for the company. Citigroup assumed coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They set a “neutral” rating and a $26.00 price target on the stock. Evercore ISI assumed coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They issued an “outperform” rating and a $30.00 price objective for the company. Cantor Fitzgerald cut their price objective on Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Finally, Barclays started coverage on Gemini Space Station in a research report on Tuesday, October 7th. They issued an “equal weight” rating and a $41.00 target price for the company. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.09.

Institutional Investors Weigh In On Gemini Space Station

Several hedge funds have recently added to or reduced their stakes in GEMI. SG Americas Securities LLC purchased a new stake in shares of Gemini Space Station in the third quarter worth $325,000. Wealth Enhancement Advisory Services LLC bought a new position in Gemini Space Station in the 3rd quarter worth about $248,000. SBI Securities Co. Ltd. purchased a new stake in Gemini Space Station during the 3rd quarter valued at about $51,000. Ground Swell Capital LLC purchased a new stake in Gemini Space Station during the 3rd quarter valued at about $229,000. Finally, Vanguard Group Inc. bought a new stake in Gemini Space Station during the 3rd quarter valued at about $25,656,000.

Gemini Space Station Trading Down 2.5%

The stock has a fifty day moving average price of $18.90.

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