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

Gemini Space Station (NASDAQ:GEMI) had its target price decreased by equities researchers at Citigroup from $4.00 to $3.20 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price suggests a potential downside of 18.58% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Gemini Space Station from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Monday. Needham & Company LLC cut their target price on shares of Gemini Space Station from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley lowered their price target on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Rosenblatt Securities dropped their price objective on Gemini Space Station from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wall Street Zen cut Gemini Space Station from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.79.

Gemini Space Station Price Performance

Shares of Gemini Space Station stock remained flat at $3.93 on Thursday. The stock had a trading volume of 4,789,992 shares, compared to its average volume of 1,829,868. The firm has a market cap of $468.81 million and a P/E ratio of -0.40. Gemini Space Station has a one year low of $3.38 and a one year high of $45.89. The firm’s 50 day moving average is $4.30 and its 200-day moving average is $5.21.

Gemini Space Station (NASDAQ:GEMI) last released its earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.18). Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. The firm had revenue of $45.48 million during the quarter. Analysts anticipate that Gemini Space Station will post -3.37 EPS for the current year.

Institutional Investors Weigh In On Gemini Space Station

Several institutional investors have recently made changes to their positions in GEMI. Commonwealth Bank of Australia acquired a new position in Gemini Space Station during the fourth quarter valued at approximately $7,086,000. Millennium Management LLC bought a new stake in shares of Gemini Space Station during the third quarter worth about $2,850,000. Pantera Capital Partners LP acquired a new position in Gemini Space Station in the 3rd quarter valued at approximately $2,225,000. Marex Group plc acquired a new stake in Gemini Space Station during the 4th quarter valued at approximately $1,500,000. Finally, Norges Bank acquired a new position in Gemini Space Station in the fourth quarter valued at $992,000.

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.