Gemini Space Station (NASDAQ:GEMI) Cut to Sell at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Gemini Space Station (NASDAQ:GEMI) from a neutral rating to a sell rating in a research note published on Wednesday, MarketBeat Ratings reports. The firm currently has $4.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Gemini Space Station from a “hold” rating to a “sell” rating in a report on Monday, June 15th. Morgan Stanley lowered their price target on Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Truist Financial dropped their price target on Gemini Space Station from $5.00 to $4.50 and set a “hold” rating for the company in a research report on Friday, July 24th. Citigroup reduced their price objective on Gemini Space Station from $5.50 to $4.00 and set a “sell” rating for the company in a research note on Tuesday, April 28th. Finally, Weiss Ratings upgraded Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.09.

Gemini Space Station Stock Down 5.1%

Shares of NASDAQ GEMI opened at $3.90 on Wednesday. The firm has a market cap of $465.23 million and a price-to-earnings ratio of -0.98. The company’s 50-day simple moving average is $4.51 and its 200-day simple moving average is $5.80. Gemini Space Station has a 52-week low of $3.74 and a 52-week high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The company had revenue of $50.27 million for the quarter. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. Equities research analysts anticipate that Gemini Space Station will post -3.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

A number of hedge funds have recently modified their holdings of the business. UBS Group AG purchased a new position in Gemini Space Station during the third quarter worth about $31,994,000. Vanguard Group Inc. purchased a new stake in shares of Gemini Space Station in the 3rd quarter valued at approximately $25,656,000. Commonwealth Bank of Australia acquired a new position in shares of Gemini Space Station in the 4th quarter worth approximately $7,086,000. Geode Capital Management LLC lifted its holdings in shares of Gemini Space Station by 1,220.7% in the 4th quarter. Geode Capital Management LLC now owns 484,571 shares of the company’s stock worth $4,808,000 after acquiring an additional 447,881 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Gemini Space Station during the 3rd quarter worth approximately $9,547,000.

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.