Morgan Stanley Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Gemini Space Station (NASDAQ:GEMI) had its price target dropped by analysts at Morgan Stanley from $6.00 to $5.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 26.44% from the stock’s previous close.

A number of other equities analysts also recently issued reports on GEMI. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price target on shares of Gemini Space Station in a research report on Monday, May 18th. Wall Street Zen cut Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Monday, June 15th. Weiss Ratings raised Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Citigroup decreased their target price on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a research report on Tuesday, April 28th. Finally, Needham & Company LLC dropped their price target on shares of Gemini Space Station from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Gemini Space Station presently has an average rating of “Hold” and a consensus price target of $12.48.

Gemini Space Station Stock Performance

GEMI opened at $4.35 on Friday. The company has a fifty day moving average of $4.71 and a two-hundred day moving average of $6.49. The stock has a market capitalization of $518.91 million and a price-to-earnings ratio of -1.10. Gemini Space Station has a fifty-two week low of $3.83 and a fifty-two week high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last posted its 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 for the quarter. The business’s revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts forecast that Gemini Space Station will post -3.56 earnings per share for the current year.

Institutional Investors Weigh In On Gemini Space Station

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new stake in shares of Gemini Space Station during the third quarter worth $123,000. Man Group plc purchased a new position in shares of Gemini Space Station in the third quarter worth about $201,000. Caitong International Asset Management Co. Ltd acquired a new position in Gemini Space Station during the fourth quarter worth about $88,000. Sandia Investment Management LP purchased a new stake in Gemini Space Station during the 3rd quarter valued at about $228,000. Finally, SBI Securities Co. Ltd. grew its stake in Gemini Space Station by 362.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock valued at $99,000 after acquiring an additional 7,781 shares in the last quarter.

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.