Gemini Space Station (NASDAQ:GEMI) Price Target Cut to $3.20 by Analysts at Citigroup

Key Points

• Citigroup cut Gemini Space Station’s price target from $4.00 to $3.20 and maintained a “sell” rating, implying 18.58% downside from the stock’s $3.93 price.
• Analyst sentiment remains mixed but cautious: the consensus rating is “Hold,” with three Buy, seven Hold, and three Sell ratings; the average price target is $10.79.
• Gemini reported a quarterly loss of $0.89 per share, missing estimates by $0.18, while posting $45.48 million in revenue and continuing to show deeply negative margins and return on equity.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its price objective decreased by equities research analysts at Citigroup from $4.00 to $3.20 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sell" rating on the stock. Citigroup's target price would indicate a potential downside of 18.58% from the stock's current price.

GEMI has been the subject of a number of other reports. Needham & Company LLC cut their target price on Gemini Space Station from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Monday. Weiss Ratings cut Gemini Space Station from a "sell (d)" rating to a "sell (e+)" rating in a report on Friday, August 14th. Rosenblatt Securities dropped their target price on shares of Gemini Space Station from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Monday. Cantor Fitzgerald dropped their target price on Gemini Space Station from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Morgan Stanley reduced their price objective on shares of Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $10.79.

Gemini Space Station Price Performance

GEMI stock remained flat at $3.93 during midday trading on Thursday. 4,789,992 shares of the company's stock were exchanged, compared to its average volume of 1,829,868. The company's 50-day moving average price is $4.30 and its 200 day moving average price is $5.21. Gemini Space Station has a 12 month low of $3.38 and a 12 month high of $45.89. The stock has a market capitalization of $468.81 million and a P/E ratio of -0.40.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate 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. As a group, equities research analysts predict that Gemini Space Station will post -3.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GEMI. Apollon Wealth Management LLC acquired a new stake in Gemini Space Station in the 1st quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gemini Space Station in the fourth quarter valued at approximately $88,000. SBI Securities Co. Ltd. raised its holdings in shares of Gemini Space Station by 362.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,930 shares of the company's stock valued at $99,000 after purchasing an additional 7,781 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Gemini Space Station in the fourth quarter worth $100,000. Finally, National Bank of Canada FI bought a new stake in shares of Gemini Space Station in the third quarter worth $123,000.

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.

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