Gemini Space Station (NASDAQ:GEMI) Stock Rating Lowered by The Goldman Sachs Group

Key Points

• Goldman Sachs downgraded Gemini Space Station to “sell” from “neutral” and set a $4.00 price target, implying 8.68% downside from the stock’s current price.
• Analyst sentiment is mixed but weakening: Gemini has three Buy, seven Hold, and three Sell ratings, with an overall “Hold” consensus; Truist, Morgan Stanley, and Citigroup have also lowered their price targets.
• The stock opened at $4.38, well below its 52-week high of $45.89. In its latest quarter, Gemini reported a $0.93 per-share loss versus the $0.90 consensus estimate, despite revenue rising 38.3% year over year to $50.27 million.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) was downgraded by stock analysts at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $4.00 price target on the stock. The Goldman Sachs Group's price objective indicates a potential downside of 8.68% from the stock's current price.

Several other equities analysts also recently weighed in on GEMI. Wall Street Zen downgraded Gemini Space Station from a "hold" rating to a "sell" rating in a research note on Monday, June 15th. Truist Financial decreased their target price on 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. Morgan Stanley lowered their target price on Gemini Space Station from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Weiss Ratings upgraded Gemini Space Station from a "sell (e+)" rating to a "sell (d)" rating in a research report on Friday, May 22nd. Finally, Citigroup decreased their price objective on shares of Gemini Space Station from $5.50 to $4.00 and set a "sell" rating on the stock in a research report on Tuesday, April 28th. Three 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 company. According to MarketBeat, Gemini Space Station currently has an average rating of "Hold" and an average price target of $12.09.

Gemini Space Station Price Performance

Gemini Space Station stock opened at $4.38 on Wednesday. The stock's 50 day moving average price is $4.57 and its 200 day moving average price is $5.90. The company has a market cap of $522.49 million and a PE ratio of -1.11. Gemini Space Station has a 1-year low of $3.83 and a 1-year high of $45.89.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.03). The firm had revenue of $50.27 million for the quarter. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities research analysts anticipate that Gemini Space Station will post -3.37 EPS for the current fiscal year.

Institutional Trading of Gemini Space Station

Hedge funds have recently bought and sold shares of the company. Gryphon Financial Partners LLC purchased a new stake in Gemini Space Station in the 1st quarter worth approximately $145,000. Apollon Wealth Management LLC purchased a new position in shares of Gemini Space Station during the 1st quarter worth $44,000. Hsbc Holdings PLC acquired a new stake in shares of Gemini Space Station during the fourth quarter worth $174,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gemini Space Station during the fourth quarter worth $88,000. Finally, Aristides Capital LLC purchased a new stake in shares of Gemini Space Station in the fourth quarter valued at $164,000.

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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