Gemini Space Station (NASDAQ:GEMI) Given New $13.00 Price Target at Morgan Stanley

Gemini Space Station (NASDAQ:GEMI) had its target price reduced by investment analysts at Morgan Stanley from $29.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 9.70% from the stock’s current price.

Several other brokerages have also recently issued reports on GEMI. Keefe, Bruyette & Woods began coverage on shares of Gemini Space Station in a research note on Tuesday, October 7th. They issued a “market perform” rating and a $27.00 price objective on the stock. Needham & Company LLC reduced their price target on Gemini Space Station from $42.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Barclays began coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $41.00 price objective for the company. Rosenblatt Securities began coverage on Gemini Space Station in a report on Tuesday, October 7th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gemini Space Station in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.91.

Gemini Space Station Stock Performance

Shares of Gemini Space Station stock traded up $0.43 during trading hours on Monday, reaching $11.85. The company’s stock had a trading volume of 786,450 shares, compared to its average volume of 2,976,089. Gemini Space Station has a one year low of $9.67 and a one year high of $45.89. The business’s 50 day moving average price is $14.79.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The company had revenue of $50.62 million during the quarter, compared to analysts’ expectations of $45.87 million.

Institutional Trading of Gemini Space Station

Several hedge funds and other institutional investors have recently bought and sold shares of GEMI. North Reef Capital Management LP acquired a new position in Gemini Space Station in the 3rd quarter valued at approximately $5,878,000. Dragoneer Investment Group LLC acquired a new stake in shares of Gemini Space Station during the third quarter worth $38,815,000. Altimeter Capital Management LP bought a new position in Gemini Space Station during the third quarter worth $38,336,000. Atreides Management LP acquired a new position in Gemini Space Station in the third quarter valued at $1,677,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Gemini Space Station in the 3rd quarter worth about $1,677,000.

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.