Morgan Stanley Lowers Gemini Space Station (NASDAQ:GEMI) Price Target to $13.00

Gemini Space Station (NASDAQ:GEMI) had its price objective decreased by analysts at Morgan Stanley from $29.00 to $13.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 17.22% from the stock’s current price.

GEMI has been the topic of several other research reports. Wall Street Zen cut shares of Gemini Space Station from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Mizuho started 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. Keefe, Bruyette & Woods initiated coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They set a “market perform” rating and a $27.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Gemini Space Station in a report on Thursday, December 11th. Finally, 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 target for the company. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Gemini Space Station currently has an average rating of “Hold” and a consensus price target of $23.91.

Gemini Space Station Stock Down 5.5%

Shares of GEMI stock opened at $11.09 on Monday. Gemini Space Station has a 1 year low of $9.67 and a 1 year high of $45.89. The stock’s fifty day simple moving average is $14.32.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly 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 firm had revenue of $50.62 million during the quarter, compared to the consensus estimate of $45.87 million.

Institutional Trading of Gemini Space Station

Large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of Gemini Space Station in the 3rd quarter worth $51,000. National Bank of Canada FI purchased a new stake in shares of Gemini Space Station during the third quarter valued at $123,000. Man Group plc acquired a new position in shares of Gemini Space Station in the 3rd quarter valued at $201,000. Sandia Investment Management LP purchased a new position in Gemini Space Station in the 3rd quarter worth about $228,000. Finally, Ground Swell Capital LLC purchased a new position in Gemini Space Station in the 3rd quarter worth 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.