The Goldman Sachs Group Cuts Gemini Space Station (NASDAQ:GEMI) Price Target to $17.00

Gemini Space Station (NASDAQ:GEMI) had its price target cut by stock analysts at The Goldman Sachs Group from $19.00 to $17.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 47.19% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Citigroup started coverage on shares of Gemini Space Station in a research report on Tuesday, October 7th. They set a “neutral” rating and a $26.00 price target for the company. Cantor Fitzgerald reduced their price objective on Gemini Space Station from $37.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, November 14th. Wall Street Zen downgraded Gemini Space Station from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Mizuho assumed coverage on Gemini Space Station in a report on Tuesday, October 7th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Barclays assumed coverage on Gemini Space Station in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $41.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Gemini Space Station currently has a consensus rating of “Moderate Buy” and an average target price of $26.55.

Gemini Space Station Stock Performance

Shares of NASDAQ:GEMI traded down $0.31 during trading on Friday, reaching $11.55. 1,347,812 shares of the stock were exchanged, compared to its average volume of 2,933,145. The company has a 50-day moving average price of $17.52. Gemini Space Station has a 12-month low of $9.67 and a 12-month high of $45.89.

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

Institutional Trading of Gemini Space Station

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