Morgan Stanley Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Gemini Space Station (NASDAQ:GEMIGet Free Report) had its target price decreased by analysts at Morgan Stanley from $6.00 to $5.50 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 26.44% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Mizuho reduced their target price on shares of Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, March 23rd. Weiss Ratings raised shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $9.00 price target on shares of Gemini Space Station in a research report on Monday, May 18th. Needham & Company LLC cut their price objective on shares of Gemini Space Station from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Finally, Citigroup lowered their price target on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating for the company in a research report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Gemini Space Station has an average rating of “Hold” and an average price target of $12.48.

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Gemini Space Station Stock Performance

NASDAQ GEMI opened at $4.35 on Friday. The company has a market cap of $518.91 million and a PE ratio of -1.10. The firm’s 50 day moving average price is $4.71 and its 200-day moving average price is $6.49. Gemini Space Station has a 52-week low of $3.83 and a 52-week high of $45.89.

Gemini Space Station (NASDAQ:GEMIGet Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The firm had revenue of $50.27 million during the quarter. Gemini Space Station’s revenue was up 38.3% on a year-over-year basis. On average, analysts forecast that Gemini Space Station will post -3.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gemini Space Station

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC acquired a new position in shares of Gemini Space Station in the 1st quarter valued at about $44,000. Caitong International Asset Management Co. Ltd acquired a new stake in Gemini Space Station during the fourth quarter worth about $88,000. SBI Securities Co. Ltd. raised 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 valued at $99,000 after acquiring an additional 7,781 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Gemini Space Station in the fourth quarter valued at approximately $100,000. Finally, National Bank of Canada FI acquired a new position in Gemini Space Station in the third quarter valued at approximately $123,000.

Gemini Space Station Company Profile

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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.

Further Reading

Analyst Recommendations for Gemini Space Station (NASDAQ:GEMI)

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