Gemini Space Station (NASDAQ:GEMI) Reaches New 1-Year Low Following Analyst Downgrade

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI) hit a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $22.00 to $19.00. The Goldman Sachs Group currently has a neutral rating on the stock. Gemini Space Station traded as low as $10.05 and last traded at $10.06, with a volume of 1107140 shares. The stock had previously closed at $10.63.

GEMI has been the topic of a number of other research reports. Wall Street Zen lowered Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Evercore ISI started coverage on Gemini Space Station in a report on Tuesday, October 7th. They issued an “outperform” rating and a $30.00 price objective on the stock. Barclays started coverage on Gemini Space Station in a research note on Tuesday, October 7th. They set an “equal weight” rating and a $41.00 target price on the stock. Cantor Fitzgerald dropped their target price on Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Finally, Zacks Research upgraded shares of Gemini Space Station to a “hold” rating in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GEMI. SBI Securities Co. Ltd. acquired a new stake in Gemini Space Station in the 3rd quarter valued at about $51,000. National Bank of Canada FI purchased a new stake in shares of Gemini Space Station during the third quarter worth approximately $123,000. Man Group plc acquired a new stake in Gemini Space Station in the third quarter valued at approximately $201,000. Sandia Investment Management LP purchased a new position in Gemini Space Station in the third quarter worth approximately $228,000. Finally, Ground Swell Capital LLC acquired a new position in Gemini Space Station during the 3rd quarter worth approximately $229,000.

Gemini Space Station Stock Performance

The firm’s fifty day simple moving average is $19.29.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The company had revenue of $50.62 million during the quarter, compared to analysts’ expectations 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.