Gemini Space Station, Inc. (NASDAQ:GEMI) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Gemini Space Station, with three sell, seven hold, and three buy recommendations. The average 12-month price target is $10.79, although several brokers recently lowered their targets.
• GEMI shares opened at $4.71 after rising 3.7%, with a market capitalization of approximately $610.7 million and a 12-month trading range of $3.38 to $45.89.
• The company reported a quarterly loss of $0.89 per share, missing estimates by $0.18, on revenue of $45.48 million. Gemini continues to post deeply negative profitability metrics, including a net margin of -250.13%.

Shares of Gemini Space Station, Inc. (NASDAQ:GEMI - Get Free Report) have received an average recommendation of "Hold" from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.7909.

GEMI has been the subject of a number of recent research reports. Cantor Fitzgerald cut their target price 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. Truist Financial lowered their price target on shares of Gemini Space Station from $5.00 to $4.50 and set a "hold" rating on the stock in a research report on Friday, July 24th. Needham & Company LLC dropped their price objective 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 cut 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. Finally, Citigroup reduced their target price on shares of Gemini Space Station from $4.00 to $3.20 and set a "sell" rating on the stock in a research note on Thursday, August 20th.

Gemini Space Station Trading Up 3.7%

NASDAQ:GEMI opened at $4.71 on Friday. The stock has a 50 day moving average of $4.26 and a two-hundred day moving average of $5.08. Gemini Space Station has a 12 month low of $3.38 and a 12 month high of $45.89. The firm has a market cap of $610.65 million and a P/E ratio of -0.49.

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 analysts' consensus estimates of ($0.71) by ($0.18). Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%.The business had revenue of $45.48 million for the quarter. On average, research analysts forecast that Gemini Space Station will post -3.37 earnings per share for the current year.

Institutional Investors Weigh In On Gemini Space Station

Institutional investors and hedge funds have recently made changes to their positions in the stock. ParaFi Capital LP increased its stake in Gemini Space Station by 430.7% during the second 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. UBS Group AG purchased a new position in shares of Gemini Space Station in the third quarter valued at approximately $31,994,000. Vanguard Group Inc. purchased a new position in shares of Gemini Space Station in the third quarter valued at approximately $25,656,000. Commonwealth Bank of Australia acquired a new position in shares of Gemini Space Station in the fourth quarter valued at approximately $7,086,000. Finally, Geode Capital Management LLC increased its stake in 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 buying an additional 447,881 shares during the period.

About Gemini Space Station

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source