Gemini Space Station (NASDAQ:GEMI) Price Target Cut to $3.20 by Analysts at Citigroup

Gemini Space Station (NASDAQ:GEMI) had its price objective decreased by equities research analysts at Citigroup from $4.00 to $3.20 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. Citigroup’s target price would indicate a potential downside of 18.58% from the stock’s current price.

GEMI has been the subject of a number of other reports. Needham & Company LLC cut their target price on Gemini Space Station from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings cut Gemini Space Station from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Rosenblatt Securities dropped their target price on shares of Gemini Space Station from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Monday. Cantor Fitzgerald dropped their target price on Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Morgan Stanley reduced their price objective on shares of 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. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.79.

Gemini Space Station Price Performance

GEMI stock remained flat at $3.93 during midday trading on Thursday. 4,789,992 shares of the company’s stock were exchanged, compared to its average volume of 1,829,868. The company’s 50-day moving average price is $4.30 and its 200 day moving average price is $5.21. Gemini Space Station has a 12 month low of $3.38 and a 12 month high of $45.89. The stock has a market capitalization of $468.81 million and a P/E ratio of -0.40.

Gemini Space Station (NASDAQ:GEMI) last posted its earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.18). Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%.The business had revenue of $45.48 million for the quarter. As a group, equities research analysts predict that Gemini Space Station will post -3.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GEMI. Apollon Wealth Management LLC acquired a new stake in Gemini Space Station in the 1st quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gemini Space Station in the fourth quarter valued at approximately $88,000. SBI Securities Co. Ltd. raised its holdings in shares of Gemini Space Station by 362.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company’s stock valued at $99,000 after purchasing an additional 7,781 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Gemini Space Station in the fourth quarter worth $100,000. Finally, National Bank of Canada FI bought a new stake in shares of Gemini Space Station in the third quarter worth $123,000.

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.