Gemini Space Station (NASDAQ:GEMI) Price Target Cut to $5.50 by Analysts at Morgan Stanley

Gemini Space Station (NASDAQ:GEMI) had its price target decreased by Morgan Stanley from $6.00 to $5.50 in a research note released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

GEMI has been the subject of several other research reports. Needham & Company LLC lowered their price objective on shares of Gemini Space Station from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Citigroup cut their price objective on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a research report on Tuesday, April 28th. Weiss Ratings raised shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Wall Street Zen cut Gemini Space Station from a “hold” rating to a “sell” rating in a report on Monday, June 15th. Finally, Mizuho lowered their target price on Gemini Space Station from $26.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Gemini Space Station has a consensus rating of “Hold” and a consensus price target of $12.48.

Gemini Space Station Stock Up 1.4%

Shares of GEMI traded up $0.06 on Friday, hitting $4.31. The company’s stock had a trading volume of 908,562 shares, compared to its average volume of 1,601,804. The firm’s fifty day moving average price is $4.71 and its 200-day moving average price is $6.47. Gemini Space Station has a fifty-two week low of $3.83 and a fifty-two week high of $45.89. The firm has a market capitalization of $514.14 million and a price-to-earnings ratio of -1.09.

Gemini Space Station (NASDAQ:GEMI) last announced its earnings results on Thursday, May 14th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The business 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. As a group, equities analysts predict that Gemini Space Station will post -3.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

Several hedge funds have recently made changes to their positions in GEMI. Dragoneer Investment Group LLC acquired a new stake in shares of Gemini Space Station in the third quarter valued at approximately $38,815,000. Altimeter Capital Management LP bought a new position in Gemini Space Station in the third quarter valued at $38,336,000. UBS Group AG acquired a new stake in Gemini Space Station in the 3rd quarter valued at $31,994,000. Vanguard Group Inc. acquired a new stake in Gemini Space Station in the 3rd quarter valued at $25,656,000. Finally, Commonwealth Bank of Australia bought a new stake in Gemini Space Station during the 4th quarter worth about $7,086,000.

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.