Gemini Space Station (NASDAQ:GEMI) Stock Bumped Up to "Neutral" by Citigroup

Key Points

• Citigroup upgraded Gemini Space Station from “sell” to “neutral” and set a $4.75 price target, implying roughly 15.6% upside from the stock’s current price.
• Analyst sentiment remains mixed but centers on “Hold,” with three Buy, five Hold, and three Sell ratings; the consensus target price is $5.78.
• Gemini reported a quarterly loss of $0.89 per share, missing expectations of a $0.71 loss, while revenue reached $45.48 million. The company continues to operate with deeply negative profitability metrics.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) was upgraded by analysts at Citigroup from a "sell" rating to a "neutral" rating in a report issued on Tuesday, Briefing.com reports. The brokerage presently has a $4.75 price target on the stock. Citigroup's price target indicates a potential upside of 15.57% from the stock's current price.

A number of other equities analysts also recently issued reports on GEMI. The Goldman Sachs Group increased their target price on Gemini Space Station from $3.50 to $4.00 and gave the stock a "sell" rating in a research note on Wednesday, September 9th. Cantor Fitzgerald dropped 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 research note on Monday, August 17th. Morgan Stanley lowered shares of Gemini Space Station from an "equal weight" rating to an "underweight" rating and set a $4.75 target price on the stock. in a report on Friday. Keefe, Bruyette & Woods upgraded Gemini Space Station to a "hold" rating in a report on Tuesday, September 29th. Finally, Weiss Ratings lowered shares of Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Gemini Space Station presently has a consensus rating of "Hold" and a consensus target price of $5.78.

Gemini Space Station Price Performance

Shares of NASDAQ GEMI opened at $4.11 on Tuesday. The stock has a fifty day moving average price of $4.57 and a 200 day moving average price of $4.59. Gemini Space Station has a 1-year low of $3.38 and a 1-year high of $23.67. The company has a market cap of $532.86 million and a PE ratio of -0.42.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last announced its quarterly earnings data 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). The firm 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%. Analysts anticipate that Gemini Space Station will post -3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

A number of institutional investors have recently made changes to their positions in the business. ParaFi Capital LP boosted its stake 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 acquiring an additional 2,782,786 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Gemini Space Station in the second quarter valued at approximately $130,000. Gryphon Financial Partners LLC acquired a new position in Gemini Space Station during the 1st quarter valued at approximately $145,000. Apollon Wealth Management LLC bought a new position in shares of Gemini Space Station during the first quarter worth about $44,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Gemini Space Station in the 4th quarter worth about $88,000.

Gemini Space Station Company Profile

Gemini Space Station, Inc operates Gemini, a cryptocurrency platform founded by Cameron and Tyler Winklevoss in 2014. The company provides individuals and institutions with services for buying, selling, trading, storing and transferring digital assets.

Its offerings include a digital-asset exchange, custodial services, institutional trading tools, staking services and other products designed to support cryptocurrency investing and blockchain-based transactions. Gemini has also offered products connected with digital-asset payments and rewards, subject to applicable regulatory requirements and geographic availability.

The company serves customers in the United States and selected international markets through its online platform and related services.

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