Gemini Space Station (NASDAQ:GEMI) Lowered to “Hold” Rating by Evercore ISI

Evercore ISI cut shares of Gemini Space Station (NASDAQ:GEMI) from an outperform rating to a hold rating in a report published on Friday morning, Marketbeat Ratings reports. Evercore ISI currently has $10.00 price objective on the stock.

GEMI has been the subject of a number of other research reports. Needham & Company LLC dropped their price objective on Gemini Space Station from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, December 29th. Mizuho dropped their price target on shares of Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, December 24th. Citigroup cut their price target on shares of Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Truist Financial lowered their price objective on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.08.

Gemini Space Station Price Performance

Gemini Space Station stock opened at $7.68 on Friday. The stock has a fifty day simple moving average of $10.42. Gemini Space Station has a twelve month low of $6.66 and a twelve month high of $45.89. The company has a market capitalization of $903.55 million and a P/E ratio of -4.24.

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

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently bought and sold shares of the business. Dragoneer Investment Group LLC purchased a new position in shares of Gemini Space Station in the third quarter worth $38,815,000. Altimeter Capital Management LP bought a new stake in Gemini Space Station in the 3rd quarter valued at $38,336,000. UBS Group AG purchased a new stake in Gemini Space Station in the 3rd quarter worth $31,994,000. Vanguard Group Inc. bought a new position in shares of Gemini Space Station during the 3rd quarter valued at about $25,656,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Gemini Space Station during the third quarter valued at about $9,547,000.

More Gemini Space Station News

Here are the key news stories impacting Gemini Space Station this week:

• Positive Sentiment: Restructuring could reduce burn and improve margins — management’s plan to cut ~25% of staff and refocus operations on the U.S. and core products may materially lower operating expenses and extend the company’s cash runway, which some investors could view as constructive for valuation if execution is clean. Read More.
• Neutral Sentiment: Multiple major outlets are publishing largely consistent reports on the layoffs and market exits; so far Gemini hasn’t provided new public financial guidance tied to the changes, leaving near-term revenue and cost savings to be clarified. Read More.
• Negative Sentiment: Evercore ISI downgraded GEMI from “outperform” to “in-line” (maintaining a $10 price target) — the rating cut signals reduced analyst conviction and could weigh on sentiment despite the stated upside to the PT. Read More.
• Negative Sentiment: Exiting the U.K., EU and Australia shrinks addressable markets and will likely reduce revenue growth potential outside the U.S.; investors will watch how much business is lost and whether customers are migrated to other platforms. Read More.
• Negative Sentiment: The pullback is being framed as a retreat amid a broader crypto downturn (Bitcoin weakness), highlighting sector risk—continued crypto market softness could prolong revenue pressure even after cost cuts. Read More.

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.