Gemini Space Station (NASDAQ:GEMI) Upgraded to "Hold" at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods upgraded Gemini Space Station to “Hold.” The consensus rating remains “Hold,” based on three Buy, seven Hold, and three Sell ratings, with an average price target of $10.84.
• GEMI shares fell 1.7% to open at $5.07, well below their 12-month high of $26.75. Several analysts recently lowered their price targets, generally to between $5.00 and $6.00.
• The company reported a quarterly loss of $0.89 per share, missing estimates by $0.18, alongside a negative net margin of 250.13%. Analysts expect a full-year loss of approximately $3.37 per share.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) was upgraded by Keefe, Bruyette & Woods to a "hold" rating in a note issued to investors on Tuesday, Zacks reports.

GEMI has been the subject of several other reports. Rosenblatt Securities decreased their target price 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. Cantor Fitzgerald cut 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. Weiss Ratings lowered Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a report on Friday, August 14th. Morgan Stanley lowered their price objective on Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Friday, July 10th. Finally, Needham & Company LLC dropped their target price on Gemini Space Station from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.84.

Gemini Space Station Stock Down 1.7%

Shares of NASDAQ:GEMI opened at $5.07 on Tuesday. Gemini Space Station has a twelve month low of $3.38 and a twelve month high of $26.75. The stock's 50 day moving average is $4.52 and its 200-day moving average is $4.67. The firm has a market capitalization of $657.33 million and a price-to-earnings ratio of -0.52.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its quarterly 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 business had revenue of $45.48 million during the quarter. Equities research analysts anticipate that Gemini Space Station will post -3.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gemini Space Station

Institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new stake in shares of Gemini Space Station during the 2nd quarter valued at $130,000. ParaFi Capital LP raised its stake in shares of Gemini Space Station by 430.7% during the 2nd quarter. ParaFi Capital LP now owns 3,428,888 shares of the company's stock worth $14,607,000 after purchasing an additional 2,782,786 shares during the period. Gryphon Financial Partners LLC purchased a new position in shares of Gemini Space Station in the 1st quarter worth about $145,000. Apollon Wealth Management LLC purchased a new position in shares of Gemini Space Station in the 1st quarter worth about $44,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Gemini Space Station during the fourth quarter valued at about $88,000.

About Gemini Space Station

Gemini Space Station, Inc, doing business as Gemini, is a cryptocurrency platform that provides digital-asset trading, custody and related financial services to retail and institutional customers. Its platform enables users to buy, sell, store and transfer cryptocurrencies and access market data and portfolio-management tools.

The company has also offered institutional services, including custody, execution and clearing solutions, as well as products designed to support staking and other digital-asset activities.

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