355,531 Bullish $BLSH Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Bullish (NYSE:BLSH) by 8.8% during the 3rd quarter, Holdings Channel reports. The firm owned 3,697,482 shares of the company’s stock after selling 355,531 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Bullish were worth $129,005,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BLSH. Essential Partners LLC bought a new position in Bullish during the 1st quarter valued at approximately $27,000. CoreCap Advisors LLC purchased a new stake in Bullish in the 3rd quarter worth approximately $67,000. Integrated Wealth Concepts LLC bought a new stake in shares of Bullish in the 2nd quarter worth approximately $59,000. Global Assets Advisory LLC bought a new stake in shares of Bullish in the 1st quarter worth approximately $134,000. Finally, Versant Capital Management Inc increased its stake in shares of Bullish by 975.3% during the third quarter. Versant Capital Management Inc now owns 3,914 shares of the company’s stock valued at $137,000 after buying an additional 3,550 shares during the period.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Negative Sentiment: Bullish shares have fallen well below their 50-day and 200-day moving averages and are trading near the 52-week low, signaling weak technical momentum. Trading volume was also roughly twice the recent average, suggesting heightened investor activity. Bullish Shares Down 10.9% – What’s Next?
• Negative Sentiment: The stock’s valuation remains demanding despite the selloff, with a price-to-earnings ratio above 75 and a historically negative net margin. While revenue grew 62.5% year over year in the latest reported quarter, investors may remain concerned about profitability and the sustainability of growth.
• Neutral Sentiment: The supplied articles about currencies, crude oil, cryptocurrencies, artificial intelligence stocks, and other companies do not provide a direct, company-specific catalyst for Bullish. Broader risk sentiment may nevertheless influence trading in the stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BLSH shares. Citigroup reiterated a “buy” rating on shares of Bullish in a report on Monday, July 27th. Wall Street Zen raised shares of Bullish from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Compass Point raised shares of Bullish from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $51.00 in a research note on Monday, September 14th. Rosenblatt Securities reduced their price target on shares of Bullish from $42.50 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Finally, Zacks Research upgraded shares of Bullish from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.36.

Bullish Price Performance

Shares of BLSH stock opened at $22.43 on Tuesday. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 75.61 and a beta of 0.70. The business’s fifty day moving average is $32.96 and its 200 day moving average is $32.26. Bullish has a twelve month low of $20.55 and a twelve month high of $51.94. The company has a quick ratio of 22.41, a current ratio of 23.52 and a debt-to-equity ratio of 0.20.

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

Bullish Profile

Bullish is a digital asset trading and financial technology company that operates a regulated cryptocurrency exchange. Its platform is designed to provide trading and market infrastructure for digital assets, including spot trading and other services for institutional and professional investors.

The company’s offerings include access to cryptocurrency markets, custody and settlement capabilities, and tools intended to support liquidity, execution and portfolio management. Bullish also publishes digital asset market news and analysis through its media operations.

Bullish was established in 2021 and launched its exchange that year.