Gemini Space Station (NASDAQ:GEMI) Stock Price Target Cut by Truist Financial

Key Points

• Truist Financial cut Gemini Space Station’s price target to $3.50 from $4.50 while maintaining a “hold” rating, implying roughly 15% upside from the prior close.
• Analyst sentiment remains mixed but centers on “hold”: MarketBeat reports a consensus target of $5.67, with three buy, five hold, and three sell ratings.
• GEMI shares fell 3.9% to $3.04, near their 52-week low, while the company reported a larger-than-expected quarterly loss of $0.89 per share and negative net margins of 250.13%.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its price target dropped by Truist Financial from $4.50 to $3.50 in a research report issued on Friday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price suggests a potential upside of 14.94% from the stock's previous close.

A number of other research firms have also weighed in on GEMI. Needham & Company LLC lowered their price target on shares of Gemini Space Station from $8.00 to $6.00 and set a "buy" rating for the company in a report on Monday, August 17th. Rosenblatt Securities decreased 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 research report on Monday, August 17th. Morgan Stanley downgraded Gemini Space Station from an "equal weight" rating to an "underweight" rating and set a $4.75 target price for the company. in a research note on Friday, October 9th. Wall Street Zen lowered Gemini Space Station from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Keefe, Bruyette & Woods upgraded Gemini Space Station to a "hold" rating in a research note on Tuesday, September 29th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.67.

Gemini Space Station Trading Down 3.9%

Shares of GEMI traded down $0.12 during mid-day trading on Friday, reaching $3.04. The company had a trading volume of 1,019,230 shares, compared to its average volume of 2,016,977. Gemini Space Station has a fifty-two week low of $2.98 and a fifty-two week high of $20.93. The firm has a fifty day simple moving average of $4.47 and a 200-day simple moving average of $4.54. The stock has a market cap of $394.78 million and a price-to-earnings ratio of -0.31.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.18). The business 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, equities analysts predict that Gemini Space Station will post -3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Gemini Space Station

A number of hedge funds have recently bought and sold shares of the company. Apollon Wealth Management LLC bought a new stake in shares of Gemini Space Station in the 1st quarter valued at approximately $44,000. WINTON GROUP Ltd acquired a new position in Gemini Space Station in the second quarter worth $130,000. Gryphon Financial Partners LLC acquired a new position in Gemini Space Station in the first quarter worth $145,000. Vontobel Holding Ltd. increased its stake in Gemini Space Station by 64.7% during the third quarter. Vontobel Holding Ltd. now owns 59,125 shares of the company's stock valued at $305,000 after purchasing an additional 23,235 shares during the last quarter. Finally, ParaFi Capital LP boosted its holdings in shares of Gemini Space Station by 430.7% in 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.

About Gemini Space Station

Gemini Space Station, Inc is a cryptocurrency platform that provides digital-asset trading, custody and related financial services to retail and institutional customers. Through its Gemini brand, the company offers a platform for buying, selling and storing cryptocurrencies, along with tools designed to support portfolio management and digital-asset transactions.

The company also provides institutional services, including custody, trading infrastructure and access to cryptocurrency markets.

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