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

Bullish (NYSE:BLSH) has received an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $50.6667.

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Bullish from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $61.00 price target on shares of Bullish in a report on Friday, May 15th. JPMorgan Chase & Co. lowered their price target on shares of Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday. Citigroup lowered their price target on shares of Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, Cantor Fitzgerald increased their target price on shares of Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th.

Insider Buying and Selling at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the completion of the transaction, the chief executive officer owned 80,000 shares in the company, valued at $3,516,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BLSH. ARK Investment Management LLC acquired a new position in shares of Bullish during the 3rd quarter worth about $163,904,000. Amova Asset Management Americas Inc. acquired a new stake in shares of Bullish during the 3rd quarter worth approximately $91,431,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Bullish by 51.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock worth $136,985,000 after buying an additional 1,304,573 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Bullish during the 3rd quarter worth approximately $74,658,000. Finally, UBS Group AG increased its holdings in Bullish by 486.1% in the 4th quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock valued at $49,581,000 after purchasing an additional 1,085,846 shares during the last quarter.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Neutral Sentiment: JPMorgan lowered its price target on Bullish to $26 from $43 and maintained a neutral rating, signaling a more cautious outlook on the stock’s valuation and near-term upside. JPMorgan lowers Bullish price target
• Negative Sentiment: The downgrade comes as Bullish already trades near its 52-week low, far below its 50-day and 200-day moving averages, highlighting ongoing pressure on sentiment after a recent earnings miss and weak net margin.
• Neutral Sentiment: Recent broader market headlines using the word “bullish” across crypto and other stocks do not appear to be company-specific drivers for Bullish and are unlikely to materially affect BLSH shares.

Bullish Price Performance

NYSE BLSH opened at $25.98 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The stock’s fifty day moving average price is $36.53 and its 200 day moving average price is $37.11. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00. The company has a market cap of $3.92 billion and a price-to-earnings ratio of -3.97.

Bullish (NYSE:BLSH) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The business had revenue of $92.83 million during the quarter. The business’s revenue for the quarter was up 48.8% compared to the same quarter last year. As a group, equities research analysts forecast that Bullish will post 0.72 earnings per share for the current year.

Bullish Company Profile

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.