Gemini Space Station (NASDAQ:GEMI) Given New $3.50 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs cut Gemini Space Station’s price target from $4.00 to $3.50 and maintained a “sell” rating, implying 3.71% downside from the prior close.
• Analyst sentiment remains mixed but leans cautious: the stock has a consensus “hold” rating, with three buys, seven holds, and three sells; the average target is $10.86.
• Gemini reported a quarterly loss of $0.89 per share, missing estimates by $0.18, on revenue of $45.48 million. The company posted a negative net margin of 250.13% and analysts expect a full-year loss of $3.37 per share.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its price target reduced by equities researchers at The Goldman Sachs Group from $4.00 to $3.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "sell" rating on the stock. The Goldman Sachs Group's price objective indicates a potential downside of 3.71% from the company's previous close.

A number of other brokerages also recently issued reports on GEMI. Rosenblatt Securities reduced their price target on shares of Gemini Space Station from $9.00 to $6.00 and set a "buy" rating on the stock in a report on Monday. Cantor Fitzgerald dropped their price objective on shares of Gemini Space Station from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Monday. Needham & Company LLC reduced 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. Mizuho set a $7.00 price target on Gemini Space Station in a report on Monday. Finally, Wall Street Zen downgraded Gemini Space Station from a "sell" rating to a "strong sell" rating in a research report on Saturday. Three investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.86.

Gemini Space Station Price Performance

GEMI stock opened at $3.63 on Monday. Gemini Space Station has a 1-year low of $3.74 and a 1-year high of $45.89. The business has a 50 day simple moving average of $4.35 and a two-hundred day simple moving average of $5.32. The company has a market capitalization of $433.62 million and a price-to-earnings ratio of -0.38.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last released its quarterly earnings data 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 company had revenue of $45.48 million for the quarter. Sell-side analysts anticipate that Gemini Space Station will post -3.37 EPS for the current fiscal year.

Institutional Trading of Gemini Space Station

A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG bought a new position in Gemini Space Station during the third quarter valued at $31,994,000. Vanguard Group Inc. bought a new stake in shares of Gemini Space Station in the 3rd quarter worth about $25,656,000. Commonwealth Bank of Australia bought a new stake in shares of Gemini Space Station in the 4th quarter worth about $7,086,000. Geode Capital Management LLC boosted its stake 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 purchasing an additional 447,881 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Gemini Space Station during the 3rd quarter worth about $9,547,000.

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.

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