Citigroup Cuts Gemini Space Station (NASDAQ:GEMI) Price Target to $3.20

Gemini Space Station (NASDAQ:GEMI) had its price target decreased by Citigroup from $4.00 to $3.20 in a report published on Thursday,Benzinga reports. Citigroup currently has a sell rating on the stock.

A number of other research analysts have also issued reports on the company. Wall Street Zen lowered Gemini Space Station from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Rosenblatt Securities lowered their price target on Gemini Space Station from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Morgan Stanley cut their price objective on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Mizuho set a $7.00 price objective on shares of Gemini Space Station in a report on Monday, August 17th. Finally, Weiss Ratings lowered shares of Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.79.

Gemini Space Station Trading Up 3.4%

GEMI opened at $4.28 on Thursday. The business’s 50 day moving average is $4.28 and its 200-day moving average is $5.18. The stock has a market cap of $510.56 million and a PE ratio of -0.44. Gemini Space Station has a twelve month low of $3.38 and a twelve month high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.18). Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%.The business had revenue of $45.48 million during the quarter. As a group, analysts forecast that Gemini Space Station will post -3.37 EPS for the current year.

Hedge Funds Weigh In On Gemini Space Station

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ParaFi Capital LP increased its position in shares of Gemini Space Station by 430.7% during the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock valued at $14,607,000 after purchasing an additional 2,782,786 shares during the period. UBS Group AG acquired a new stake in shares of Gemini Space Station in the third quarter valued at $31,994,000. Vanguard Group Inc. bought a new position in Gemini Space Station during the third quarter valued at about $25,656,000. Commonwealth Bank of Australia bought a new position in Gemini Space Station during the fourth quarter valued at about $7,086,000. Finally, Geode Capital Management LLC grew its holdings in Gemini Space Station by 1,220.7% during the fourth quarter. Geode Capital Management LLC now owns 484,571 shares of the company’s stock worth $4,808,000 after acquiring an additional 447,881 shares during the period.

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.