Gemini Space Station (NASDAQ:GEMI) Stock Bumped Down to Underweight by Morgan Stanley

by · The Markets Daily

Gemini Space Station (NASDAQ:GEMI – Get Free Report) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Friday, MarketBeat reports. They currently have a $4.75 price objective on the stock. Morgan Stanley’s price target suggests a potential upside of 6.26% from the stock’s current price.

A number of other analysts have also commented on GEMI. Truist Financial lowered their target price on shares of Gemini Space Station from $5.00 to $4.50 and set a “hold” rating for the company in a report on Friday, July 24th. The Goldman Sachs Group upped their price objective on Gemini Space Station from $3.50 to $4.00 and gave the company a “sell” rating in a report on Wednesday, September 9th. Needham & Company LLC cut their target price on Gemini Space Station from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 17th. Rosenblatt Securities decreased their target price on Gemini Space Station from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Finally, Mizuho set a $7.00 price target on Gemini Space Station in a research note on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Gemini Space Station has a consensus rating of “Reduce” and a consensus price target of $5.61.

Read Our Latest Analysis on GEMI

Gemini Space Station Stock Down 0.4%

Gemini Space Station stock opened at $4.47 on Friday. The stock has a 50-day simple moving average of $4.56 and a 200 day simple moving average of $4.60. Gemini Space Station has a 12-month low of $3.38 and a 12-month high of $26.34. The stock has a market capitalization of $579.54 million and a price-to-earnings ratio of -0.46.

Gemini Space Station (NASDAQ:GEMI – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.18). Gemini Space Station had a negative return on equity of 75.66% and a negative net margin of 250.13%.The company had revenue of $45.48 million for the quarter. As a group, sell-side analysts anticipate that Gemini Space Station will post -3.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Gemini Space Station during the fourth quarter worth about $88,000. Apollon Wealth Management LLC bought a new stake in Gemini Space Station during the 1st quarter worth approximately $44,000. Aristides Capital LLC acquired a new stake in Gemini Space Station during the 4th quarter worth approximately $164,000. Clear Street Group Inc. bought a new position in Gemini Space Station in the fourth quarter valued at approximately $219,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Gemini Space Station during the second quarter worth $130,000.

Gemini Space Station Company Profile

(Get Free Report)

Gemini Space Station, Inc operates Gemini, a cryptocurrency platform founded by Cameron and Tyler Winklevoss in 2014. The company provides individuals and institutions with services for buying, selling, trading, storing and transferring digital assets.

Its offerings include a digital-asset exchange, custodial services, institutional trading tools, staking services and other products designed to support cryptocurrency investing and blockchain-based transactions. Gemini has also offered products connected with digital-asset payments and rewards, subject to applicable regulatory requirements and geographic availability.

The company serves customers in the United States and selected international markets through its online platform and related services.

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