The Goldman Sachs Group Has Lowered Expectations for Gemini Space Station (NASDAQ:GEMI) Stock Price

Key Points

• Goldman Sachs cut its price target on Gemini Space Station from $22 to $19 and kept a "neutral" rating, with that $19 target implying roughly an 80% upside from the current share price.
• Analyst coverage is mixed — the stock has six Buy and six Hold ratings, a MarketBeat consensus of "Moderate Buy," and a consensus target price of $29.09.
• Gemini recently reported a sharp EPS miss (‑$1.81 vs. an expected ‑$0.82) though revenue topped estimates; the stock trades around $10.54, near its 12‑month low of $10.08.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its price objective cut by investment analysts at The Goldman Sachs Group from $22.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 80.27% from the company's current price.

Several other research firms have also commented on GEMI. Wall Street Zen cut shares of Gemini Space Station from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. Mizuho assumed coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They issued an "outperform" rating and a $30.00 price target for the company. Morgan Stanley assumed coverage on Gemini Space Station in a research report on Tuesday, October 7th. They issued an "equal weight" rating and a $29.00 price target for the company. Needham & Company LLC decreased their price objective on Gemini Space Station from $42.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, November 11th. Finally, Rosenblatt Securities assumed coverage on Gemini Space Station in a research note on Tuesday, October 7th. They issued a "buy" rating and a $30.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.09.

Gemini Space Station Price Performance

NASDAQ GEMI traded down $0.04 during trading on Friday, hitting $10.54. 833,776 shares of the stock traded hands, compared to its average volume of 3,111,388. Gemini Space Station has a 12-month low of $10.08 and a 12-month high of $45.89. The company has a 50-day moving average of $19.49.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) last posted its earnings results on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.99). The firm had revenue of $50.62 million during the quarter, compared to analysts' expectations of $45.87 million.

Institutional Trading of Gemini Space Station

Several institutional investors have recently added to or reduced their stakes in GEMI. SBI Securities Co. Ltd. bought a new position in shares of Gemini Space Station during the third quarter valued at approximately $51,000. National Bank of Canada FI purchased a new position in Gemini Space Station during the 3rd quarter valued at $123,000. Man Group plc bought a new position in Gemini Space Station in the 3rd quarter valued at $201,000. Sandia Investment Management LP bought a new position in Gemini Space Station in the 3rd quarter valued at $228,000. Finally, Ground Swell Capital LLC bought a new position in Gemini Space Station in the 3rd quarter valued at $229,000.

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.

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