Gemini Space Station (NASDAQ:GEMI) Stock Price Down 4.2% After Analyst Downgrade

Gemini Space Station, Inc. (NASDAQ:GEMI)’s share price was down 4.2% during mid-day trading on Monday after Needham & Company LLC lowered their price target on the stock from $10.00 to $8.00. Needham & Company LLC currently has a buy rating on the stock. Gemini Space Station traded as low as $5.69 and last traded at $5.72. Approximately 445,353 shares were traded during trading, a decline of 73% from the average daily volume of 1,664,097 shares. The stock had previously closed at $5.97.

GEMI has been the subject of several other reports. The Goldman Sachs Group decreased their price target on shares of Gemini Space Station from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $8.00 price objective (down from $14.00) on shares of Gemini Space Station in a research report on Wednesday, February 18th. Mizuho decreased their target price on Gemini Space Station from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, December 24th. Morgan Stanley dropped their price target on 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. Finally, Truist Financial lowered Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a report on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.82.

Insider Buying and Selling

In other Gemini Space Station news, Director Sachin Chand Jaitly sold 39,708 shares of Gemini Space Station stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $8.92, for a total transaction of $354,195.36. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Gemini Space Station during the 3rd quarter worth approximately $51,000. National Bank of Canada FI purchased a new position in Gemini Space Station in the third quarter valued at approximately $123,000. Man Group plc bought a new position in Gemini Space Station during the third quarter valued at $201,000. Caitong International Asset Management Co. Ltd purchased a new stake in Gemini Space Station in the fourth quarter worth $88,000. Finally, Sandia Investment Management LP bought a new stake in shares of Gemini Space Station in the third quarter valued at $228,000.

Gemini Space Station Stock Down 4.9%

The company’s 50 day simple moving average is $7.98. The stock has a market cap of $668.27 million and a PE ratio of -3.14.

Gemini Space Station (NASDAQ:GEMI) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The firm had revenue of $60.34 million during the quarter.

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.