Gemini Space Station (NASDAQ:GEMI) Stock Gets Price Target Cut from Truist Financial

Gemini Space Station (NASDAQ:GEMI) had its target price cut by Truist Financial from $4.50 to $3.50 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald dropped their price objective on shares of Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, August 17th. Rosenblatt Securities reduced their target price 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 Gemini Space Station from an “equal weight” rating to an “underweight” rating and set a $4.75 target price on the stock. in a report on Friday, October 9th. Mizuho set a $7.00 target price on Gemini Space Station in a research report on Monday, August 17th. Finally, Needham & Company LLC dropped their price target on Gemini Space Station from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.67.

Gemini Space Station Stock Performance

Shares of NASDAQ:GEMI opened at $3.06 on Friday. The firm has a fifty day moving average price of $4.46 and a 200 day moving average price of $4.53. Gemini Space Station has a fifty-two week low of $2.97 and a fifty-two week high of $20.93. The firm has a market cap of $396.73 million and a price-to-earnings ratio of -0.32.

Gemini Space Station (NASDAQ:GEMI) last posted 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). The company had revenue of $45.48 million for the quarter. Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. As a group, research analysts predict that Gemini Space Station will post -3.26 earnings per share for the current year.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently added to or reduced their stakes in the company. ParaFi Capital LP raised its position in Gemini Space Station by 430.7% in the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company’s stock worth $14,607,000 after purchasing an additional 2,782,786 shares during the period. Apollon Wealth Management LLC lifted its stake in Gemini Space Station by 96.4% in the third quarter. Apollon Wealth Management LLC now owns 40,780 shares of the company’s stock worth $210,000 after purchasing an additional 20,014 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Gemini Space Station by 64.7% during the third quarter. Vontobel Holding Ltd. now owns 59,125 shares of the company’s stock valued at $305,000 after buying an additional 23,235 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Gemini Space Station during the second quarter valued at approximately $130,000. Finally, Gryphon Financial Partners LLC purchased a new position in shares of Gemini Space Station during the first quarter valued at approximately $145,000.

Gemini Space Station Company Profile

Gemini Space Station, Inc is a cryptocurrency platform that provides digital-asset trading, custody and related financial services to retail and institutional customers. Through its Gemini brand, the company offers a platform for buying, selling and storing cryptocurrencies, along with tools designed to support portfolio management and digital-asset transactions.

The company also provides institutional services, including custody, trading infrastructure and access to cryptocurrency markets.