Truist Financial Cuts Gemini Space Station (NASDAQ:GEMI) Price Target to $4.50

Gemini Space Station (NASDAQ:GEMI) had its price objective lowered by Truist Financial from $5.00 to $4.50 in a report released on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

GEMI has been the topic of several other reports. Morgan Stanley dropped their price target on shares of Gemini Space Station from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Citigroup lowered their price objective on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating on the stock in a research note on Tuesday, April 28th. Wall Street Zen lowered shares of Gemini Space Station from a “hold” rating to a “sell” rating in a research note on Monday, June 15th. Rosenblatt Securities restated a “buy” rating and set a $9.00 target price on shares of Gemini Space Station in a report on Monday, May 18th. Finally, The Goldman Sachs Group decreased their price target on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Gemini Space Station currently has an average rating of “Hold” and a consensus target price of $12.25.

Gemini Space Station Price Performance

Shares of NASDAQ:GEMI opened at $4.29 on Friday. The stock has a market cap of $511.75 million and a price-to-earnings ratio of -1.08. Gemini Space Station has a 12 month low of $3.83 and a 12 month high of $45.89. The stock’s 50 day moving average price is $4.60 and its 200 day moving average price is $6.00.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.03). The firm had revenue of $50.27 million during the quarter. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, sell-side analysts expect that Gemini Space Station will post -3.37 EPS for the current year.

Hedge Funds Weigh In On Gemini Space Station

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEMI. Gryphon Financial Partners LLC purchased a new stake in shares of Gemini Space Station in the first quarter valued at $145,000. Apollon Wealth Management LLC purchased a new stake in Gemini Space Station in the 1st quarter worth about $44,000. Hsbc Holdings PLC purchased a new stake in Gemini Space Station in the 4th quarter worth about $174,000. Caitong International Asset Management Co. Ltd acquired a new stake in Gemini Space Station during the 4th quarter worth about $88,000. Finally, Aristides Capital LLC purchased a new position in Gemini Space Station during the 4th quarter valued at about $164,000.

About Gemini Space Station

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.