Needham & Company LLC Lowers Gemini Space Station (NASDAQ:GEMI) Price Target to $23.00

Gemini Space Station (NASDAQ:GEMI) had its price target lowered by investment analysts at Needham & Company LLC from $35.00 to $23.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 116.17% from the company’s current price.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods started coverage on Gemini Space Station in a research note on Tuesday, October 7th. They set a “market perform” rating and a $27.00 target price on the stock. Rosenblatt Securities initiated coverage on Gemini Space Station in a report on Tuesday, October 7th. They issued a “buy” rating and a $30.00 price target for the company. 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. Wall Street Zen downgraded shares of Gemini Space Station from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, The Goldman Sachs Group lowered their target price 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. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Gemini Space Station presently has an average rating of “Hold” and a consensus target price of $22.45.

Gemini Space Station Price Performance

NASDAQ GEMI opened at $10.64 on Monday. Gemini Space Station has a 52 week low of $9.67 and a 52 week high of $45.89. The stock’s 50 day moving average price is $13.74.

Gemini Space Station (NASDAQ:GEMI) last announced its earnings results on Monday, November 10th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.99). The business had revenue of $50.62 million for the quarter, compared to the consensus estimate of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

A number of institutional investors and hedge funds have recently modified their holdings of GEMI. SG Americas Securities LLC purchased a new stake in Gemini Space Station in the third quarter valued at approximately $325,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Gemini Space Station during the 3rd quarter valued at approximately $248,000. SBI Securities Co. Ltd. acquired a new stake in Gemini Space Station during the 3rd quarter valued at approximately $51,000. Ground Swell Capital LLC purchased a new stake in shares of Gemini Space Station in the 3rd quarter valued at $229,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Gemini Space Station in the third quarter worth $25,656,000.

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.