Gemini Space Station (NASDAQ:GEMI) Price Target Raised to $4.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs raised Gemini Space Station’s price target from $3.50 to $4.00 but maintained a “sell” rating, implying 13.68% downside from the stock’s $4.63 price.
• Analyst sentiment remains mixed, with three buy, seven hold, and three sell ratings; the consensus rating is “Hold” with a much higher average target of $10.84.
• Gemini reported a quarterly loss of $0.89 per share, missing estimates by $0.18, alongside $45.48 million in revenue and a deeply negative net margin of 250.13%.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its price target increased by research analysts at The Goldman Sachs Group from $3.50 to $4.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a "sell" rating on the stock. The Goldman Sachs Group's price target would suggest a potential downside of 13.68% from the stock's current price.

Other analysts also recently issued reports about the stock. Rosenblatt Securities dropped their price objective on shares of Gemini Space Station from $9.00 to $6.00 and set a "buy" rating for the company in a report on Monday, August 17th. Wall Street Zen cut Gemini Space Station from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Cantor Fitzgerald dropped their price target on Gemini Space Station from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Monday, August 17th. Needham & Company LLC cut their price objective on Gemini Space Station from $8.00 to $6.00 and set a "buy" rating for the company in a report on Monday, August 17th. Finally, Weiss Ratings cut Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Gemini Space Station currently has a consensus rating of "Hold" and a consensus target price of $10.84.

Gemini Space Station Trading Down 1.0%

Shares of NASDAQ GEMI traded down $0.05 during midday trading on Wednesday, hitting $4.63. 803,531 shares of the company's stock were exchanged, compared to its average volume of 1,929,700. The business's fifty day moving average price is $4.29 and its two-hundred day moving average price is $4.93. The company has a market cap of $600.80 million and a price-to-earnings ratio of -0.48. Gemini Space Station has a 12-month low of $3.38 and a 12-month high of $45.89.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.89) earnings per share (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 company had revenue of $45.48 million for the quarter. Equities analysts expect that Gemini Space Station will post -3.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gemini Space Station

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ParaFi Capital LP boosted its position in Gemini Space Station by 430.7% during the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company's stock valued at $14,607,000 after buying an additional 2,782,786 shares during the period. Commonwealth Bank of Australia purchased a new position in shares of Gemini Space Station in the fourth quarter valued at about $7,086,000. Hsbc Holdings PLC bought a new position in shares of Gemini Space Station during the fourth quarter valued at about $174,000. Invesco Ltd. purchased a new stake in shares of Gemini Space Station during the fourth quarter worth about $173,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Gemini Space Station during the fourth quarter worth about $160,000.

Gemini Space Station Company Profile

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.

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