Citigroup Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Key Points

• Citigroup cut its price target on Gemini from $5.50 to $4.00 and assigned a "sell" rating, implying about a 9.6% downside from the prior close.
• The analyst consensus remains "Hold" (3 buys, 8 holds, 2 sells) with an average target of $12.52, despite several recent target cuts and downgrades from firms like Rosenblatt, Needham and Cantor Fitzgerald.
• Fundamentals look weak: GEMI posted an EPS miss (loss of $1.22 vs. -$1.06 expected), trades near $4.43 with a negative P/E and analysts forecast -3.56 EPS for the year, though Vanguard has taken a sizable $25.7M position and an insider sold shares.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its target price dropped by stock analysts at Citigroup from $5.50 to $4.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "sell" rating on the stock. Citigroup's price target points to a potential downside of 9.60% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities reduced their target price on Gemini Space Station from $11.50 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, March 24th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Gemini Space Station in a report on Monday, December 29th. Needham & Company LLC reduced their target price on Gemini Space Station from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, March 23rd. Evercore downgraded Gemini Space Station from an "outperform" rating to an "in-line" rating and set a $10.00 target price on the stock. in a report on Friday, February 6th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $8.00 target price (down from $14.00) on shares of Gemini Space Station in a report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Gemini Space Station presently has a consensus rating of "Hold" and an average target price of $12.52.

Gemini Space Station Stock Up 1.3%

Shares of GEMI stock traded up $0.06 during trading hours on Tuesday, reaching $4.43. The company's stock had a trading volume of 437,674 shares, compared to its average volume of 1,738,303. The firm's 50 day simple moving average is $5.79 and its 200-day simple moving average is $10.17. The company has a market capitalization of $530.93 million and a price-to-earnings ratio of -1.46. Gemini Space Station has a fifty-two week low of $3.91 and a fifty-two week high of $45.89.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported ($1.22) earnings per share for the quarter, missing analysts' consensus estimates of ($1.06) by ($0.16). The business had revenue of $60.34 million during the quarter. Sell-side analysts predict that Gemini Space Station will post -3.56 earnings per share for the current year.

Insider Activity at Gemini Space Station

In other news, Director Sachin Chand Jaitly sold 39,708 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $8.92, for a total value of $354,195.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GEMI. SG Americas Securities LLC bought a new position in shares of Gemini Space Station in the 3rd quarter valued at $325,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Gemini Space Station in the 3rd quarter valued at $248,000. SBI Securities Co. Ltd. bought a new position in Gemini Space Station during the 3rd quarter worth $51,000. Ground Swell Capital LLC bought a new position in Gemini Space Station during the 3rd quarter worth $229,000. Finally, Vanguard Group Inc. bought a new position in Gemini Space Station during the 3rd quarter worth $25,656,000.

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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