Gemini Space Station (NASDAQ:GEMI) Lowered to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Gemini Space Station to “strong sell” from “sell,” while other analysts also issued cautious ratings, including price-target cuts from Citigroup and Truist.
• GEMI opened at $3.92, near its one-year low of $3.74, with a market capitalization of about $467.6 million; its 50-day and 200-day moving averages were $4.35 and $5.35, respectively.
• The company reported a quarterly loss of $0.89 per share, missing the $0.71 consensus estimate, alongside a negative net margin of 250.13% and negative return on equity of 72.84%.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently commented on the stock. Weiss Ratings upgraded shares of Gemini Space Station from a "sell (e+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. Citigroup dropped their price objective on shares of Gemini Space Station from $5.50 to $4.00 and set a "sell" rating for the company in a research note on Tuesday, April 28th. The Goldman Sachs Group downgraded shares of Gemini Space Station from a "neutral" rating to a "sell" rating and set a $4.00 price objective for the company. in a report on Wednesday, July 29th. Rosenblatt Securities restated a "buy" rating and set a $9.00 target price on shares of Gemini Space Station in a research report on Monday, May 18th. Finally, Truist Financial lowered their target price 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. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.09.

Gemini Space Station Price Performance

GEMI opened at $3.92 on Friday. The business has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $5.35. The company has a market capitalization of $467.62 million and a PE ratio of -0.40. Gemini Space Station has a 1 year low of $3.74 and a 1 year high of $45.89.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.18). Gemini Space Station had a negative net margin of 250.13% and a negative return on equity of 72.84%. The firm had revenue of $45.48 million during the quarter. Equities analysts anticipate that Gemini Space Station will post -3.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in Gemini Space Station in the third quarter valued at about $123,000. SBI Securities Co. Ltd. grew its stake in Gemini Space Station by 362.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company's stock worth $99,000 after buying an additional 7,781 shares in the last quarter. Man Group plc acquired a new stake in Gemini Space Station during the third quarter worth about $201,000. Caitong International Asset Management Co. Ltd bought a new position in Gemini Space Station in the 4th quarter valued at about $88,000. Finally, Sandia Investment Management LP bought a new position in Gemini Space Station in the 3rd quarter valued at about $228,000.

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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