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

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price reached a new 52-week low during mid-day trading on Monday after Evercore ISI lowered their price target on the stock from $30.00 to $15.00. Evercore ISI currently has an outperform rating on the stock. Gemini Space Station traded as low as $9.77 and last traded at $9.80, with a volume of 560308 shares changing hands. The stock had previously closed at $11.00.

A number of other brokerages have also issued reports on GEMI. Morgan Stanley initiated coverage on Gemini Space Station in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $29.00 price target for the company. The Goldman Sachs Group lowered their price objective on shares of Gemini Space Station from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Zacks Research upgraded shares of Gemini Space Station to a “hold” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods began coverage on Gemini Space Station in a research report on Tuesday, October 7th. They set a “market perform” rating and a $27.00 target price for the company. Finally, Cantor Fitzgerald decreased their target price 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. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.73.

Institutional Investors Weigh In On Gemini Space Station

Institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC bought a new position in Gemini Space Station during the 3rd quarter worth $240,000. Woodline Partners LP acquired a new stake in shares of Gemini Space Station in the 3rd quarter worth about $3,832,000. Zimmer Partners LP purchased a new stake in shares of Gemini Space Station during the third quarter valued at approximately $599,000. Steadfast Capital Management LP bought a new position in shares of Gemini Space Station during the 3rd quarter worth $4,792,000. Finally, Pantera Capital Partners LP bought a new stake in Gemini Space Station during the 3rd quarter worth approximately $2,225,000.

Gemini Space Station Trading Down 1.8%

The firm has a 50-day moving average of $18.05.

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