Bullish (NYSE:BLSH) Receives Average Rating of “Hold” from Analysts

Bullish (NYSE:BLSH) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $51.9167.

A number of equities analysts recently issued reports on the company. Rosenblatt Securities lowered their price target on Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Bullish in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. JPMorgan Chase & Co. dropped their target price on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Finally, Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd.

Bullish Trading Up 3.6%

NYSE:BLSH opened at $36.33 on Friday. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00. The stock has a market cap of $5.48 billion and a P/E ratio of 363.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28. The stock has a 50-day simple moving average of $33.91 and a 200-day simple moving average of $43.55.

Bullish (NYSE:BLSH) last posted its earnings results on Friday, February 6th. The company reported ($3.73) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). The company had revenue of $92.51 million during the quarter. Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. Bullish’s revenue was up 67.6% on a year-over-year basis. During the same quarter last year, the business earned $1.37 earnings per share.

Institutional Investors Weigh In On Bullish

A number of institutional investors have recently added to or reduced their stakes in BLSH. Sumitomo Mitsui Trust Group Inc. acquired a new position in Bullish during the third quarter worth $91,782,000. Nwam LLC acquired a new stake in Bullish in the third quarter valued at $4,540,000. WINTON GROUP Ltd acquired a new stake in Bullish in the third quarter valued at $7,099,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Bullish during the 3rd quarter worth $2,723,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Bullish during the 3rd quarter worth $3,180,000.

About Bullish

Bullish (NYSE: BLSH) is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm’s stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.