Bullish (NYSE:BLSH) Stock Has Average Target Price of $44.64

Bullish (NYSE:BLSH) has been given an average recommendation of “Hold” by the fifteen ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $44.64.

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods reduced their price objective on Bullish from $55.00 to $40.00 and set a “market perform” rating for the company in a report on Tuesday, September 29th. JPMorgan Chase & Co. boosted their target price on Bullish from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday. Rosenblatt Securities lowered their target price on shares of Bullish from $42.50 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Finally, Freedom Capital assumed coverage on shares of Bullish in a report on Tuesday, November 3rd. They set a “hold” rating on the stock.

Bullish Stock Down 2.8%

BLSH traded down $0.66 during trading on Friday, hitting $22.51. 1,229,353 shares of the company’s stock traded hands, compared to its average volume of 1,427,707. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -2.43 and a beta of 1.06. The company’s 50 day simple moving average is $31.03 and its two-hundred day simple moving average is $31.59. Bullish has a 12-month low of $20.06 and a 12-month high of $48.93. The company has a current ratio of 23.52, a quick ratio of 22.41 and a debt-to-equity ratio of 0.20.

Bullish (NYSE:BLSH) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Bullish had a positive return on equity of 2.48% and a negative net margin of 389.38%. The firm had revenue of $92.62 million during the quarter. The business’s quarterly revenue was up 62.5% compared to the same quarter last year. Analysts predict that Bullish will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amova Asset Management Americas Inc. boosted its holdings in Bullish by 51.9% in the first quarter. Amova Asset Management Americas Inc. now owns 3,836,063 shares of the company’s stock worth $137,139,000 after purchasing an additional 1,311,243 shares during the last quarter. Voya Investment Management LLC raised its stake in Bullish by 1,009.8% during the 3rd quarter. Voya Investment Management LLC now owns 807,778 shares of the company’s stock valued at $28,183,000 after buying an additional 734,989 shares during the last quarter. Galaxy Digital Inc. purchased a new stake in Bullish during the 1st quarter valued at $22,331,000. Intrinsic Edge Capital Management LLC purchased a new stake in Bullish during the 1st quarter valued at $7,830,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Bullish by 178.4% during the 1st quarter. Renaissance Technologies LLC now owns 156,833 shares of the company’s stock valued at $5,604,000 after buying an additional 100,500 shares during the period.

Bullish News Roundup

Here’s some of the latest news about BLSH:

• Positive Sentiment: JPMorgan Chase issued a positive forecast for Bullish shares, offering a favorable analyst signal. The available report does not provide a price target or further rationale. JPMorgan Chase & Co. Issues Positive Forecast for Bullish Stock Price
• Positive Sentiment: Bullish Exchange added USDai and sUSDai, expanding the assets available on its platform. The listing may support exchange activity and product breadth, though the report gives no adoption or revenue estimates. USDai and sUSDai are now live on Bullish Exchange
• Neutral Sentiment: A Zacks article flagged recent options-market activity in BLSH, but the provided summary does not specify the trades’ direction or enough detail to judge their implications. Do Options Traders Know Something About Bullish Stock We Don’t?

About Bullish

Bullish is a digital asset company that operates the Bullish exchange, a platform focused on cryptocurrency trading and financial services for institutional and professional clients. Its offerings include spot and derivatives trading, along with related market and liquidity services. The company was founded in 2021 and expanded its digital asset and media businesses through its 2023 acquisition of CoinDesk, which provides cryptocurrency news, data, research and industry events. Bullish serves clients in multiple international markets, subject to local regulations.