Bullish (NYSE:BLSH) Given Average Recommendation of “Hold” by Brokerages

Bullish (NYSE:BLSH) has been assigned an average rating of “Hold” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $51.9167.

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a research note on Friday, March 27th. Cantor Fitzgerald increased their price target on Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $61.00 price target on shares of Bullish in a research report on Friday, May 15th. JPMorgan Chase & Co. dropped their price target on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Finally, Rosenblatt Securities raised their target price on Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th.

Bullish Trading Down 2.1%

Shares of BLSH opened at $35.21 on Friday. The company has a market capitalization of $5.31 billion and a P/E ratio of -5.38. Bullish has a one year low of $24.79 and a one year high of $118.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42. The stock has a 50-day moving average price of $38.89 and a 200 day moving average price of $38.59.

Bullish (NYSE:BLSH) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was up 48.8% on a year-over-year basis. Sell-side analysts forecast that Bullish will post 0.72 EPS for the current fiscal year.

Key Bullish News

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Ark Invest continued to add to its Bullish position, buying millions of dollars’ worth of shares and signaling strong conviction in the crypto platform’s long-term potential. Cathie Wood’s Ark Invest Loads Up On Bullish Stock
• Positive Sentiment: Another report said Ark purchased $5.14 million in Bullish shares while trimming Taiwan Semiconductor, reinforcing that BLSH remains a priority holding for the fund. ARK Invest Accumulates Bullish (BLSH) Stock While Reducing TSMC Holdings
• Neutral Sentiment: Coverage focused on the stock’s recent sharp two-week decline, suggesting that even with Ark’s buying, investors are still weighing execution and sentiment risks around the name. BLSH Shares Face a Sharp Two Week Drop as Cathie Wood Aggressively Pumps In Millions
• Neutral Sentiment: Other articles in the feed were about unrelated companies and analyst actions, so they are unlikely to have a direct impact on Bullish’s stock.

Insider Buying and Selling

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

Hedge Funds Weigh In On Bullish

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Essential Partners LLC bought a new position in Bullish during the 1st quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in shares of Bullish in the 4th quarter worth approximately $28,000. Ameritas Advisory Services LLC bought a new stake in shares of Bullish in the 3rd quarter worth approximately $29,000. Strs Ohio bought a new stake in shares of Bullish in the 4th quarter worth approximately $30,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Bullish in the 4th quarter worth approximately $30,000.

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.