The Goldman Sachs Group Has Lowered Expectations for Gemini Space Station (NASDAQ:GEMI) Stock Price
by Kim Johansen · The Markets DailyGemini Space Station (NASDAQ:GEMI – Get Free Report) had its price objective cut by analysts at The Goldman Sachs Group from $6.50 to $5.75 in a research note issued to investors on Wednesday,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 21.59% from the company’s current price.
A number of other equities analysts have also recently weighed in on the company. Citigroup cut Gemini Space Station from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $13.00 to $5.50 in a research note on Wednesday, March 18th. Truist Financial lowered shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Tuesday, February 17th. Evercore cut shares of Gemini Space Station from an “outperform” rating to an “in-line” rating and set a $10.00 target price for the company. in a report on Friday, February 6th. Needham & Company LLC cut their price target on shares of Gemini Space Station from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Finally, Rosenblatt Securities reduced their price target on shares of Gemini Space Station from $11.50 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Gemini Space Station currently has a consensus rating of “Hold” and a consensus target price of $13.30.
Gemini Space Station Price Performance
Shares of NASDAQ:GEMI traded up $0.35 on Wednesday, reaching $4.73. 694,887 shares of the company traded hands, compared to its average volume of 1,684,966. The stock has a market cap of $556.37 million and a PE ratio of -1.55. The firm has a 50 day simple moving average of $6.61. Gemini Space Station has a fifty-two week low of $3.91 and a fifty-two week high of $45.89.
Gemini Space Station (NASDAQ:GEMI – Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). The company had revenue of $60.34 million during the quarter.
Insider Transactions at Gemini Space Station
In related news, Director Sachin Chand Jaitly sold 39,708 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $8.92, for a total value of $354,195.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Hedge Funds Weigh In On Gemini Space Station
A number of large investors have recently made changes to their positions in GEMI. Dragoneer Investment Group LLC acquired a new stake in shares of Gemini Space Station during the third quarter worth approximately $38,815,000. Altimeter Capital Management LP purchased a new position in Gemini Space Station during the third quarter valued at approximately $38,336,000. UBS Group AG acquired a new position in Gemini Space Station in the 3rd quarter valued at approximately $31,994,000. Vanguard Group Inc. purchased a new stake in Gemini Space Station in the 3rd quarter worth approximately $25,656,000. Finally, Commonwealth Bank of Australia purchased a new stake in Gemini Space Station in the 4th 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.