Gemini Space Station (NASDAQ:GEMI) Stock Price Down 5.7% After Analyst Downgrade

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price traded down 5.7% on Tuesday after Mizuho lowered their price target on the stock from $30.00 to $26.00. Mizuho currently has an outperform rating on the stock. Gemini Space Station traded as low as $11.02 and last traded at $11.07. 249,979 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 2,944,070 shares. The stock had previously closed at $11.74.

Several other research analysts have also recently commented on the company. Citigroup cut their price target on Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday. Evercore ISI dropped their price objective on Gemini Space Station from $30.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. Needham & Company LLC reduced their target price on Gemini Space Station from $42.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Truist Financial decreased their price target on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Finally, Rosenblatt Securities began coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They issued a “buy” rating and a $30.00 price target for the company. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.55.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in Gemini Space Station during the third quarter valued at $51,000. National Bank of Canada FI acquired a new position in shares of Gemini Space Station in the 3rd quarter valued at about $123,000. Man Group plc acquired a new position in shares of Gemini Space Station in the 3rd quarter valued at about $201,000. Sandia Investment Management LP bought a new stake in shares of Gemini Space Station during the 3rd quarter valued at about $228,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Gemini Space Station during the 3rd quarter valued at about $229,000.

Gemini Space Station Trading Up 2.5%

The stock has a 50 day moving average price of $14.10.

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 business had revenue of $50.62 million during the quarter, compared to the consensus estimate of $45.87 million.

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.