Gemini Space Station (NASDAQ:GEMI) Cut to “Sell” at Wall Street Zen

Gemini Space Station (NASDAQ:GEMI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

A number of other research analysts have also issued reports on GEMI. Weiss Ratings upgraded shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Morgan Stanley dropped their price target on shares of Gemini Space Station from $13.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $8.00 price target (down from $14.00) on shares of Gemini Space Station in a research note on Wednesday, February 18th. Needham & Company LLC reduced their price target on Gemini Space Station from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Finally, Rosenblatt Securities restated a “buy” rating and set a $9.00 price objective on shares of Gemini Space Station in a research note on Monday, May 18th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.52.

Gemini Space Station Stock Performance

Shares of Gemini Space Station stock opened at $4.70 on Monday. The firm has a 50-day moving average of $4.77 and a 200-day moving average of $7.42. Gemini Space Station has a 52-week low of $3.91 and a 52-week high of $45.89. The stock has a market cap of $560.66 million and a PE ratio of -1.19.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The company had revenue of $50.27 million for the quarter. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. Equities research analysts predict that Gemini Space Station will post -3.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

Several hedge funds and other institutional investors have recently made changes to their positions in GEMI. Dragoneer Investment Group LLC bought a new stake in shares of Gemini Space Station during the 3rd quarter worth approximately $38,815,000. Altimeter Capital Management LP acquired a new stake in shares of Gemini Space Station during the 3rd quarter worth approximately $38,336,000. UBS Group AG bought a new position in Gemini Space Station in the third quarter valued at approximately $31,994,000. Vanguard Group Inc. acquired a new position in Gemini Space Station during the third quarter valued at approximately $25,656,000. Finally, Commonwealth Bank of Australia acquired a new position in Gemini Space Station during the fourth quarter valued at approximately $7,086,000.

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.