Rosenblatt Securities Issues Positive Forecast for Bullish (NYSE:BLSH) Stock Price

Bullish (NYSE:BLSH) had its price target hoisted by Rosenblatt Securities from $39.00 to $45.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Citigroup lowered their target price on Bullish from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. JPMorgan Chase & Co. lowered their price objective on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Bullish from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.42.

Bullish Stock Down 2.2%

NYSE:BLSH opened at $41.86 on Wednesday. Bullish has a 1 year low of $24.79 and a 1 year high of $118.00. The stock has a 50-day moving average price of $38.80 and a two-hundred day moving average price of $39.31. The stock has a market cap of $6.31 billion and a price-to-earnings ratio of 418.59. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling

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

Hedge Funds Weigh In On Bullish

Large investors have recently modified their holdings of the business. ARK Investment Management LLC acquired a new stake in shares of Bullish in the third quarter valued at about $163,904,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Bullish during the 3rd quarter worth approximately $92,824,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Bullish during the 3rd quarter worth approximately $91,782,000. Amova Asset Management Americas Inc. bought a new stake in shares of Bullish during the 3rd quarter worth approximately $91,431,000. Finally, Invesco Ltd. acquired a new stake in shares of Bullish in the 3rd quarter valued at approximately $74,658,000.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Rosenblatt Securities raised its price target on Bullish to $45 from $39, signaling a modestly more favorable view even though the firm kept a neutral rating. Benzinga report
• Positive Sentiment: Bullish announced it will acquire Equiniti in a $4.2 billion transaction, a transformative deal that could expand the company’s scale and strategic footprint. Bullish to Acquire Equiniti
• Neutral Sentiment: Bullish is scheduled to report first-quarter earnings before the bell on Thursday, and investors are watching whether softer crypto trading volumes affect results. Bullish Q1 earnings preview
• Negative Sentiment: CEO Thomas W. Farley sold 80,000 shares at an average price of $43.95, cutting his direct stake by 50%. Insider selling can weigh on sentiment, especially just before earnings. SEC Form 4 filing

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.