Gemini Space Station (NASDAQ:GEMI) Price Target Cut to $6.00 by Analysts at Rosenblatt Securities

Key Points

• Rosenblatt Securities lowered Gemini Space Station’s price target to $6.00 from $9.00 while maintaining a “buy” rating, implying roughly 53% upside from the stock’s $3.92 price.
• Analyst sentiment is mixed but leans cautious: MarketBeat reports an overall “hold” consensus, with three Buy, seven Hold, and three Sell ratings, and an average price target of $11.36.
• Gemini reported a quarterly loss of $0.89 per share, missing the $0.71 consensus estimate, on revenue of $45.48 million; the company also posted deeply negative profitability metrics, including a 250.13% net margin.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its price target cut by Rosenblatt Securities from $9.00 to $6.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' price objective suggests a potential upside of 53.06% from the stock's current price.

Several other research firms have also recently issued reports on GEMI. Weiss Ratings raised Gemini Space Station from a "sell (e+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. Wall Street Zen cut shares of Gemini Space Station from a "sell" rating to a "strong sell" rating in a research note on Saturday. Citigroup reduced 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 report on Tuesday, April 28th. The Goldman Sachs Group cut shares of Gemini Space Station from a "neutral" rating to a "sell" rating and set a $4.00 target price on the stock. in a research note on Wednesday, July 29th. Finally, Truist Financial dropped 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. 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $11.36.

Gemini Space Station Stock Performance

GEMI opened at $3.92 on Monday. The business's 50 day moving average is $4.35 and its 200-day moving average is $5.32. The stock has a market cap of $467.62 million and a PE ratio of -0.40. Gemini Space Station has a twelve month low of $3.74 and a twelve month 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) 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 during the quarter. As a group, analysts forecast that Gemini Space Station will post -3.37 EPS for the current year.

Institutional Inflows and Outflows

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