Gemini Space Station (NASDAQ:GEMI) Price Target Cut to $11.50 by Analysts at Rosenblatt Securities

Gemini Space Station (NASDAQ:GEMI) had its price objective cut by investment analysts at Rosenblatt Securities from $26.00 to $11.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 91.67% from the stock’s current price.

Several other brokerages have also weighed in on GEMI. Citigroup lowered their target price on shares of Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. The Goldman Sachs Group decreased their price target on Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Morgan Stanley dropped their price objective on Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating for the company in a research note on Monday, December 22nd. Truist Financial cut Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a report on Tuesday. Finally, Evercore downgraded Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 target price on the stock. in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.68.

Gemini Space Station Price Performance

Shares of GEMI opened at $6.00 on Friday. The company has a 50-day moving average of $9.62. The stock has a market cap of $705.90 million and a P/E ratio of -3.31. Gemini Space Station has a 52-week low of $5.83 and a 52-week high of $45.89.

Hedge Funds Weigh In On Gemini Space Station

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. acquired a new position in shares of Gemini Space Station in the fourth quarter worth $173,000. Quadrature Capital Ltd purchased a new stake in Gemini Space Station during the 4th quarter worth about $160,000. Engineers Gate Manager LP purchased a new position in Gemini Space Station in the 4th quarter valued at about $100,000. North Reef Capital Management LP lifted its holdings in Gemini Space Station by 22.3% in the 4th quarter. North Reef Capital Management LP now owns 300,000 shares of the company’s stock valued at $2,976,000 after purchasing an additional 54,678 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Gemini Space Station by 1,430.5% during the 4th quarter. Royal Bank of Canada now owns 23,416 shares of the company’s stock worth $233,000 after purchasing an additional 21,886 shares during the last quarter.

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.