Cantor Fitzgerald Cuts Gemini Space Station (NASDAQ:GEMI) Price Target to $5.00

Key Points

• Cantor Fitzgerald lowered Gemini Space Station’s price target to $5.00 from $7.00 while maintaining a neutral rating, implying roughly 27.6% upside from the stock’s $3.92 price.
• Analyst sentiment remains mixed but leans cautious: Gemini has an average “Hold” rating and a consensus target of $11.36, while recent firms have cut targets and Wall Street Zen downgraded the stock to “strong sell.”
• The company reported a quarterly loss of $0.89 per share, missing estimates by $0.18, on $45.48 million in revenue; it also recorded a negative net margin of 250.13% and negative return on equity of 75.66%.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its price target cut by Cantor Fitzgerald from $7.00 to $5.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 27.55% from the company's current price.

A number of other research analysts also recently weighed in on GEMI. Wall Street Zen downgraded shares of Gemini Space Station from a "sell" rating to a "strong sell" rating in a research report on Saturday. Rosenblatt Securities lowered their target price on Gemini Space Station from $9.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday. Truist Financial dropped their price objective on shares of Gemini Space Station from $5.00 to $4.50 and set a "hold" rating on the stock in a report on Friday, July 24th. Citigroup cut their price target on Gemini Space Station from $5.50 to $4.00 and set a "sell" rating for the company in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Gemini Space Station from a "sell (e+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. 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 company's stock. According to data from MarketBeat.com, Gemini Space Station currently has an average rating of "Hold" and a consensus target price of $11.36.

Gemini Space Station Price Performance

GEMI opened at $3.92 on Monday. Gemini Space Station has a fifty-two week low of $3.74 and a fifty-two week high of $45.89. The company's 50-day moving average is $4.35 and its 200 day moving average is $5.32. The firm has a market capitalization of $467.62 million and a P/E ratio of -0.40.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last released 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). 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%. On average, equities research analysts expect that Gemini Space Station will post -3.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GEMI. UBS Group AG purchased a new stake in Gemini Space Station in the third quarter valued at approximately $31,994,000. Vanguard Group Inc. bought a new position in shares of Gemini Space Station in the 3rd quarter worth $25,656,000. Commonwealth Bank of Australia purchased a new stake in shares of Gemini Space Station during the 4th quarter valued at $7,086,000. Geode Capital Management LLC lifted its holdings in shares of Gemini Space Station by 1,220.7% during the 4th quarter. Geode Capital Management LLC now owns 484,571 shares of the company's stock worth $4,808,000 after acquiring an additional 447,881 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Gemini Space Station in the third quarter worth $9,547,000.

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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