Gemini Space Station (NASDAQ:GEMI) Rating Lowered to “Hold” at Truist Financial

Gemini Space Station (NASDAQ:GEMI) was downgraded by stock analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $7.00 price objective on the stock. Truist Financial’s price objective points to a potential upside of 9.37% from the company’s current price.

A number of other analysts also recently issued reports on GEMI. Needham & Company LLC decreased their price objective on shares of Gemini Space Station from $35.00 to $23.00 and set a “buy” rating for the company in a report on Monday, December 29th. Evercore lowered shares of Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 price target for the company. in a research note on Friday, February 6th. Citigroup lowered 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. Morgan Stanley reduced their price objective on Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating for the company in a report on Monday, December 22nd. Finally, The Goldman Sachs Group decreased their price objective on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.09.

Gemini Space Station Price Performance

Shares of NASDAQ GEMI traded down $1.16 during mid-day trading on Tuesday, reaching $6.40. 1,476,430 shares of the company were exchanged, compared to its average volume of 1,509,578. Gemini Space Station has a twelve month low of $6.35 and a twelve month high of $45.89. The company has a market capitalization of $752.96 million and a PE ratio of -3.54. The firm’s 50-day moving average is $10.00.

Institutional Investors Weigh In On Gemini Space Station

Large investors have recently added to or reduced their stakes in the stock. Sandia Investment Management LP purchased a new stake in Gemini Space Station during the third quarter valued at $228,000. Man Group plc acquired a new stake in shares of Gemini Space Station in the 3rd quarter worth $201,000. National Bank of Canada FI acquired a new position in Gemini Space Station during the 3rd quarter valued at about $123,000. Commonwealth Bank of Australia purchased a new stake in Gemini Space Station in the fourth quarter valued at about $7,086,000. Finally, SBI Securities Co. Ltd. boosted its position in Gemini Space Station by 362.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock worth $99,000 after purchasing an additional 7,781 shares in the last quarter.

Gemini Space Station Company Profile

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.