Gemini Space Station (NASDAQ:GEMI) Cut to Hold at Evercore ISI

Evercore ISI cut shares of Gemini Space Station (NASDAQ:GEMI) from an outperform rating to a hold rating in a research report released on Friday morning, MarketBeat.com reports. They currently have $10.00 price target on the stock.

A number of other research firms also recently issued reports on GEMI. Wall Street Zen downgraded shares of Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Truist Financial decreased their price objective on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Mizuho dropped their price objective on shares of Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, December 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a research note on Monday, December 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.08.

Gemini Space Station Stock Up 14.6%

Shares of GEMI opened at $7.68 on Friday. Gemini Space Station has a twelve month low of $6.66 and a twelve month high of $45.89. The stock has a market cap of $903.55 million and a price-to-earnings ratio of -4.24. The business has a fifty day moving average price of $10.42.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.81) 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 the consensus estimate of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC purchased a new position in Gemini Space Station in the 3rd quarter valued at about $38,815,000. Altimeter Capital Management LP purchased a new stake in shares of Gemini Space Station during the third quarter worth about $38,336,000. UBS Group AG acquired a new position in shares of Gemini Space Station in the third quarter worth about $31,994,000. Vanguard Group Inc. purchased a new position in Gemini Space Station in the third quarter valued at about $25,656,000. Finally, Squarepoint Ops LLC purchased a new position in Gemini Space Station in the third quarter valued at about $9,547,000.

Gemini Space Station News Roundup

Here are the key news stories impacting Gemini Space Station this week:

• Positive Sentiment: Restructuring could reduce burn and improve margins — management’s plan to cut ~25% of staff and refocus operations on the U.S. and core products may materially lower operating expenses and extend the company’s cash runway, which some investors could view as constructive for valuation if execution is clean. Read More.
• Neutral Sentiment: Multiple major outlets are publishing largely consistent reports on the layoffs and market exits; so far Gemini hasn’t provided new public financial guidance tied to the changes, leaving near-term revenue and cost savings to be clarified. Read More.
• Negative Sentiment: Evercore ISI downgraded GEMI from “outperform” to “in-line” (maintaining a $10 price target) — the rating cut signals reduced analyst conviction and could weigh on sentiment despite the stated upside to the PT. Read More.
• Negative Sentiment: Exiting the U.K., EU and Australia shrinks addressable markets and will likely reduce revenue growth potential outside the U.S.; investors will watch how much business is lost and whether customers are migrated to other platforms. Read More.
• Negative Sentiment: The pullback is being framed as a retreat amid a broader crypto downturn (Bitcoin weakness), highlighting sector risk—continued crypto market softness could prolong revenue pressure even after cost cuts. Read More.

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.