Citigroup Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Gemini Space Station (NASDAQ:GEMI) had its price target lowered by investment analysts at Citigroup from $16.00 to $13.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 17.22% from the company’s previous close.

Several other analysts also recently commented on the stock. Wall Street Zen downgraded shares of Gemini Space Station from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Keefe, Bruyette & Woods initiated coverage on shares of 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gemini Space Station in a research report on Wednesday, December 17th. Rosenblatt Securities initiated coverage on Gemini Space Station in a research note on Tuesday, October 7th. They set a “buy” rating and a $30.00 price objective for the company. Finally, The Goldman Sachs Group decreased their price objective 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. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.91.

Gemini Space Station Price Performance

Shares of NASDAQ:GEMI opened at $11.09 on Monday. Gemini Space Station has a 52-week low of $9.67 and a 52-week high of $45.89. The business has a 50-day moving average price of $14.32.

Gemini Space Station (NASDAQ:GEMI) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

Hedge funds have recently modified their holdings of the company. North Reef Capital Management LP purchased a new stake in shares of Gemini Space Station in the third quarter valued at approximately $5,878,000. Dragoneer Investment Group LLC purchased a new position in shares of Gemini Space Station during the 3rd quarter valued at approximately $38,815,000. Altimeter Capital Management LP acquired a new stake in Gemini Space Station in the 3rd quarter valued at $38,336,000. Atreides Management LP purchased a new stake in Gemini Space Station in the 3rd quarter worth $1,677,000. Finally, Ghisallo Capital Management LLC acquired a new position in Gemini Space Station during the third quarter worth $1,677,000.

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.