Needham & Company LLC Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Gemini Space Station (NASDAQ:GEMI) had its target price reduced by equities research analysts at Needham & Company LLC from $35.00 to $23.00 in a research report issued on Monday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 131.39% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Morgan Stanley cut their price objective on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, December 22nd. Keefe, Bruyette & Woods started coverage on Gemini Space Station in a research note on Tuesday, October 7th. They issued a “market perform” rating and a $27.00 price target on the stock. Rosenblatt Securities began coverage on Gemini Space Station in a research report on Tuesday, October 7th. They issued a “buy” rating and a $30.00 price target on the stock. Zacks Research upgraded Gemini Space Station to a “hold” rating in a report on Wednesday, October 8th. Finally, Truist Financial cut their target price on Gemini Space Station from $28.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.45.

Gemini Space Station Price Performance

Shares of GEMI stock opened at $9.94 on Monday. Gemini Space Station has a 12 month low of $9.67 and a 12 month high of $45.89. The stock has a 50-day moving average price of $13.32.

Gemini Space Station (NASDAQ:GEMI) last released its earnings results on Monday, November 10th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The business had revenue of $50.62 million for the quarter, compared to the consensus estimate of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

A number of hedge funds and other institutional investors have recently bought and sold shares of GEMI. Dragoneer Investment Group LLC acquired a new position in Gemini Space Station during the 3rd quarter worth approximately $38,815,000. Altimeter Capital Management LP bought a new stake in shares of Gemini Space Station in the third quarter worth $38,336,000. UBS Group AG acquired a new position in Gemini Space Station during the third quarter worth $31,994,000. Vanguard Group Inc. bought a new position in Gemini Space Station in the third quarter valued at $25,656,000. Finally, Squarepoint Ops LLC bought a new position in Gemini Space Station in the third quarter valued at $9,547,000.

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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.