Gemini Space Station (NASDAQ:GEMI) Downgraded by Evercore ISI to “In-Line”

Gemini Space Station (NASDAQ:GEMI) was downgraded by research analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a research report issued to clients and investors on Friday. They presently have a $10.00 price target on the stock. Evercore ISI’s price target indicates a potential upside of 29.03% from the stock’s previous close.

GEMI has been the subject of several other reports. Truist Financial reduced their target price on Gemini Space Station from $28.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Cantor Fitzgerald decreased their price objective on shares of Gemini Space Station from $25.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Morgan Stanley cut their target price on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, December 22nd. Wall Street Zen cut shares of Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Gemini Space Station has an average rating of “Hold” and an average target price of $20.08.

Gemini Space Station Price Performance

GEMI stock traded up $1.05 during trading on Friday, reaching $7.75. The stock had a trading volume of 1,704,467 shares, compared to its average volume of 1,556,517. The company has a fifty day moving average of $10.49. The firm has a market capitalization of $911.79 million and a P/E ratio of -4.28. Gemini Space Station has a 1-year low of $6.66 and a 1-year high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last announced 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 firm had revenue of $50.62 million during the quarter, compared to analyst estimates of $45.87 million.

Institutional Trading of Gemini Space Station

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in Gemini Space Station in the 3rd quarter worth about $25,656,000. Alpine Global Management LLC acquired a new position in shares of Gemini Space Station during the third quarter worth approximately $240,000. Hudson Bay Capital Management LP acquired a new position in shares of Gemini Space Station during the third quarter worth approximately $647,000. Steadfast Capital Management LP bought a new position in Gemini Space Station in the 3rd quarter worth approximately $4,792,000. Finally, SBI Securities Co. Ltd. increased its position in Gemini Space Station by 362.1% in the 4th 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 during the period.

Trending Headlines about Gemini Space Station

Here are the key news stories impacting Gemini Space Station this week:

• Positive Sentiment: Management announced a broad restructuring to cut about 25% of staff and exit the U.K., EU and Australia to focus on the U.S. and prediction markets — a move that should reduce burn and extend runway if executed cleanly. Yahoo: Gemini Slashes Staff, Exits Europe Amid Crypto Downturn
• Neutral Sentiment: Evercore ISI downgraded GEMI from “outperform” to “in-line” but set a $10 price target (still above current levels), signaling mixed analyst views — a rating cut that tempers enthusiasm but leaves upside per the new PT. Finviz: Evercore downgrade
• Negative Sentiment: Widespread media coverage frames the cuts and regional exits as a retreat driven by the crypto downturn; headlines and reports from multiple outlets are likely weighing on sentiment and could pressure near-term trading. Reuters: Gemini plans cut 200 jobs
• Negative Sentiment: Other outlets report the firm will shutter accounts/operations in Australia and scale down globally — steps that reduce addressable revenue in the near term and increase execution risk around the strategic refocus. MSN: Gemini to cut jobs, scale down
• Negative Sentiment: At least one aggregated report notes a lowered price target for GEMI (an ~11% cut to $20.45), adding to downward pressure from analysts trimming forecasts amid weaker crypto market conditions. MSN: price target decreased

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. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.