Gemini Space Station (NASDAQ:GEMI) Price Target Lowered to $8.00 at Needham & Company LLC

Gemini Space Station (NASDAQ:GEMI) had its price objective decreased by equities researchers at Needham & Company LLC from $10.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 34.00% from the company’s previous close.

Several other brokerages have also issued reports on GEMI. Morgan Stanley cut their target price on shares of Gemini Space Station from $29.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday, December 22nd. Evercore downgraded Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 price target on the stock. in a research report on Friday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $8.00 price target (down from $14.00) on shares of Gemini Space Station in a research note on Wednesday, February 18th. Rosenblatt Securities reduced their price objective on Gemini Space Station from $26.00 to $11.50 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Citigroup cut Gemini Space Station from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $13.00 to $5.50 in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Gemini Space Station currently has an average rating of “Hold” and an average target price of $15.82.

Gemini Space Station Price Performance

Shares of GEMI opened at $5.97 on Monday. Gemini Space Station has a 1-year low of $5.51 and a 1-year high of $45.89. The stock has a market capitalization of $702.39 million and a P/E ratio of -3.30. The company has a 50 day moving average of $7.98.

Gemini Space Station (NASDAQ:GEMI) last released its quarterly earnings results on Thursday, March 19th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). The business had revenue of $60.34 million for the quarter.

Insider Transactions at Gemini Space Station

In other news, Director Sachin Chand Jaitly sold 39,708 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $8.92, for a total transaction of $354,195.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On Gemini Space Station

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dragoneer Investment Group LLC bought a new position in Gemini Space Station during the 3rd quarter worth approximately $38,815,000. Altimeter Capital Management LP bought a new stake in Gemini Space Station in the third quarter valued at approximately $38,336,000. UBS Group AG purchased a new stake in shares of Gemini Space Station during the third quarter valued at approximately $31,994,000. Vanguard Group Inc. purchased a new stake in shares of Gemini Space Station during the third quarter valued at approximately $25,656,000. Finally, Commonwealth Bank of Australia bought a new position in shares of Gemini Space Station in the fourth quarter worth approximately $7,086,000.

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.