Gemini Space Station (NASDAQ:GEMI) Hits New 52-Week Low on Analyst Downgrade

Gemini Space Station, Inc. (NASDAQ:GEMI) shares hit a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $23.00 to $10.00. Needham & Company LLC currently has a buy rating on the stock. Gemini Space Station traded as low as $6.19 and last traded at $6.14, with a volume of 100620 shares trading hands. The stock had previously closed at $6.38.

GEMI has been the subject of a number of other reports. Truist Financial lowered shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research note on Tuesday. Morgan Stanley dropped their target price on Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, December 22nd. Evercore downgraded Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 price target for the company. in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Gemini Space Station in a report on Monday, December 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $8.00 target price (down previously from $14.00) on shares of Gemini Space Station in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.36.

Hedge Funds Weigh In On Gemini Space Station

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

Gemini Space Station Price Performance

The stock has a market capitalization of $722.37 million and a PE ratio of -3.39. The stock’s fifty day simple moving average is $9.80.

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.