Cantor Fitzgerald Issues Pessimistic Forecast for Gemini Space Station (NASDAQ:GEMI) Stock Price

Gemini Space Station (NASDAQ:GEMI) had its price objective dropped by Cantor Fitzgerald from $25.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 67.66% from the company’s previous close.

Several other research analysts also recently weighed in on GEMI. Rosenblatt Securities initiated coverage on shares of Gemini Space Station in a report on Tuesday, October 7th. They set a “buy” rating and a $30.00 price objective on the stock. Truist Financial lowered their target price on shares of Gemini Space Station from $28.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Citigroup dropped their price target on shares of Gemini Space Station from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Morgan Stanley dropped their target price on Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, December 22nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Gemini Space Station in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Gemini Space Station currently has an average rating of “Hold” and a consensus price target of $21.45.

Gemini Space Station Price Performance

Gemini Space Station stock traded down $0.77 during midday trading on Thursday, reaching $8.35. The stock had a trading volume of 882,334 shares, compared to its average volume of 1,349,858. The business has a fifty day moving average price of $10.85. Gemini Space Station has a 12 month low of $8.30 and a 12 month high of $45.89. The company has a market cap of $982.38 million and a P/E ratio of -4.61.

Gemini Space Station (NASDAQ:GEMI) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.99). The business had revenue of $50.62 million during the quarter, compared to analysts’ expectations of $45.87 million.

Institutional Investors Weigh In On Gemini Space Station

Large investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC purchased a new position in shares of Gemini Space Station in the 3rd quarter worth about $38,815,000. Altimeter Capital Management LP purchased a new position in Gemini Space Station in the third quarter valued at about $38,336,000. UBS Group AG bought a new position in shares of Gemini Space Station during the 3rd quarter valued at approximately $31,994,000. Vanguard Group Inc. purchased a new stake in shares of Gemini Space Station during the 3rd quarter worth approximately $25,656,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Gemini Space Station in the 3rd 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.