Gemini Space Station (NASDAQ:GEMI) Sets New 12-Month Low on Analyst Downgrade

Gemini Space Station, Inc. (NASDAQ:GEMI)’s stock price hit a new 52-week low on Monday after Evercore ISI lowered their price target on the stock from $30.00 to $15.00. Evercore ISI currently has an outperform rating on the stock. Gemini Space Station traded as low as $9.77 and last traded at $9.80, with a volume of 560308 shares trading hands. The stock had previously closed at $11.00.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial dropped their target price on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Barclays initiated coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They set an “equal weight” rating and a $41.00 price objective for the company. Wall Street Zen cut shares of Gemini Space Station from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Cantor Fitzgerald reduced their target price on Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. Finally, The Goldman Sachs Group dropped their price target on Gemini Space Station from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.73.

Institutional Trading of Gemini Space Station

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

Gemini Space Station Price Performance

The business’s fifty day moving average price is $18.40.

Gemini Space Station (NASDAQ:GEMI) last released its earnings results 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 business had revenue of $50.62 million for the quarter, compared to the consensus estimate of $45.87 million.

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.