Gemini Space Station (GEMI) stock falls 9.1% after multiple analysts lower price targets
Gemini Space Station's share price was down 9.1% as of 11:30 a.m. ET, having dropped as much as 13.8% earlier in the session. This decline follows new coverage from investment firms including Rosenblatt, Mizuho, Needham, and Goldman Sachs, all of whom issued downward revisions to their price targets for the stock. Rosenblatt lowered its target from $9 to $6, Mizuho from $8 to $7, Needham from $8 to $6, and Goldman Sachs from $4 to $3.50. Goldman Sachs maintained its sell rating, while the other firms reiterated buy-equivalent ratings despite the target adjustments. The analyst revisions come after Gemini Space Station reported a wider-than-expected loss of $0.89 per share in Q2, though revenue of $45.5 million beat estimates.
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