Rosenblatt Securities Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Gemini Space Station (NASDAQ:GEMI) had its price objective reduced by research analysts at Rosenblatt Securities from $9.00 to $6.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 53.06% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Gemini Space Station from a “neutral” rating to a “sell” rating and set a $4.00 target price for the company. in a report on Wednesday, July 29th. Citigroup cut their price target on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Gemini Space Station from a “sell” rating to a “strong sell” rating in a research report on Saturday. 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. Finally, Morgan Stanley lowered 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 report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Gemini Space Station has a consensus rating of “Hold” and a consensus target price of $11.36.

Gemini Space Station Price Performance

Shares of NASDAQ GEMI opened at $3.92 on Monday. Gemini Space Station has a 12 month low of $3.74 and a 12 month high of $45.89. The company has a market cap of $467.62 million and a price-to-earnings ratio of -0.40. The business has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $5.32.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.18). The company had revenue of $45.48 million during the quarter. Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 75.66%. As a group, sell-side analysts expect that Gemini Space Station will post -3.37 EPS for the current fiscal year.

Institutional Trading of Gemini Space Station

Several institutional investors have recently made changes to their positions in GEMI. UBS Group AG purchased a new position in Gemini Space Station during the third quarter valued at approximately $31,994,000. Vanguard Group Inc. acquired a new position in shares of Gemini Space Station in the third quarter worth $25,656,000. Commonwealth Bank of Australia purchased a new stake in shares of Gemini Space Station during the fourth quarter worth $7,086,000. Geode Capital Management LLC grew its stake in Gemini Space Station by 1,220.7% in the fourth quarter. Geode Capital Management LLC now owns 484,571 shares of the company’s stock valued at $4,808,000 after purchasing an additional 447,881 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Gemini Space Station in the 3rd quarter worth about $9,547,000.

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.