The Goldman Sachs Group Cuts Gemini Space Station (NASDAQ:GEMI) Price Target to $3.50

Gemini Space Station (NASDAQ:GEMI) had its price objective lowered by investment analysts at The Goldman Sachs Group from $4.00 to $3.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 3.71% from the stock’s current price.

Other analysts have also issued reports about the stock. Citigroup lowered their target price on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating for the company in a research note on Tuesday, April 28th. Needham & Company LLC reduced their price target on shares of Gemini Space Station from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday. Cantor Fitzgerald decreased their price objective on shares of Gemini Space Station from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Monday. Truist Financial lowered their price objective on shares of Gemini Space Station from $5.00 to $4.50 and set a “hold” rating for the company in a research report on Friday, July 24th. Finally, Rosenblatt Securities dropped their target price on shares of Gemini Space Station from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Gemini Space Station presently has a consensus rating of “Hold” and a consensus price target of $10.86.

Gemini Space Station Stock Performance

Shares of GEMI stock opened at $3.63 on Monday. The stock has a 50 day moving average price of $4.35 and a 200 day moving average price of $5.32. Gemini Space Station has a 52-week low of $3.74 and a 52-week high of $45.89. The firm has a market capitalization of $433.62 million and a P/E ratio of -0.38.

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

Institutional Investors Weigh In On Gemini Space Station

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