Truist Financial Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Key Points

• Truist Financial cut its price target on Gemini Space Station from $5.00 to $4.50 and kept a hold rating, implying only modest upside from the current share price.
• Recent analyst sentiment has been mostly cautious, with multiple firms lowering targets or ratings; overall, the stock has a consensus hold rating and an average price target of $12.25.
• Gemini Space Station missed its latest earnings estimate, reporting -$0.93 EPS versus the expected -$0.90, even though revenue rose 38.3% year over year to $50.27 million.

Gemini Space Station (NASDAQ:GEMI - Get Free Report) had its target price cut by Truist Financial from $5.00 to $4.50 in a research note issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price target points to a potential upside of 2.27% from the company's current price.

GEMI has been the subject of a number of other reports. Wall Street Zen lowered shares of Gemini Space Station from a "hold" rating to a "sell" rating in a research report on Monday, June 15th. Citigroup lowered their price objective on 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. The Goldman Sachs Group dropped their price objective on Gemini Space Station from $6.50 to $5.75 and set a "neutral" rating for the company in a research note on Wednesday, April 8th. 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, Rosenblatt Securities restated a "buy" rating and issued a $9.00 target price on shares of Gemini Space Station in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.25.

Gemini Space Station Trading Down 3.5%

Shares of Gemini Space Station stock opened at $4.40 on Friday. Gemini Space Station has a 12-month low of $3.83 and a 12-month high of $45.89. The company has a market cap of $524.88 million and a price-to-earnings ratio of -1.11. The company's 50-day moving average price is $4.63 and its 200-day moving average price is $6.05.

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

Hedge Funds Weigh In On Gemini Space Station

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. bought a new position in shares of Gemini Space Station during the 3rd quarter valued at about $25,656,000. Van ECK Associates Corp purchased a new stake in Gemini Space Station in the third quarter worth approximately $9,328,000. Franklin Resources Inc. bought a new position in Gemini Space Station during the third quarter valued at approximately $2,963,000. UBS Group AG bought a new position in Gemini Space Station during the third quarter valued at approximately $31,994,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Gemini Space Station during the third quarter worth approximately $9,547,000.

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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