Truist Financial Has Lowered Expectations for Gemini Space Station (NASDAQ:GEMI) Stock Price

Gemini Space Station (NASDAQ:GEMI) had its price target decreased by equities researchers at Truist Financial from $5.00 to $4.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 4.90% from the company’s previous close.

A number of other research firms have also recently issued reports on GEMI. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 target price on shares of Gemini Space Station in a research note on Monday, May 18th. Citigroup cut their price target on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, April 28th. The Goldman Sachs Group reduced their price objective on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Morgan Stanley decreased their price objective on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, July 10th. Finally, Weiss Ratings raised shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.25.

Gemini Space Station Price Performance

Shares of GEMI stock opened at $4.29 on Friday. Gemini Space Station has a fifty-two week low of $3.83 and a fifty-two week high of $45.89. The stock’s 50-day moving average is $4.60 and its two-hundred day moving average is $6.04. The firm has a market cap of $511.75 million and a P/E ratio of -1.08.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The firm had revenue of $50.27 million during the quarter. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. As a group, research analysts expect that Gemini Space Station will post -3.37 EPS for the current year.

Institutional Trading of Gemini Space Station

A number of hedge funds have recently bought and sold shares of GEMI. Gryphon Financial Partners LLC bought a new position in Gemini Space Station during the first quarter valued at about $145,000. Apollon Wealth Management LLC bought a new stake in shares of Gemini Space Station in the 1st quarter worth approximately $44,000. Hsbc Holdings PLC bought a new stake in shares of Gemini Space Station in the 4th quarter worth approximately $174,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gemini Space Station during the 4th quarter worth approximately $88,000. Finally, Aristides Capital LLC acquired a new stake in shares of Gemini Space Station during the 4th quarter worth approximately $164,000.

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.