Bullish (NYSE:BLSH) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Bullish (NYSE:BLSH) have received a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $50.6667.

A number of equities research analysts have recently commented on the company. Citigroup dropped their target price on Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. 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. Wall Street Zen lowered Bullish from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Cantor Fitzgerald boosted their price objective on Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 15th.

Bullish Stock Performance

NYSE BLSH traded down $0.52 during mid-day trading on Friday, reaching $24.28. 830,520 shares of the stock were exchanged, compared to its average volume of 1,589,436. The company has a market capitalization of $3.66 billion and a P/E ratio of -3.71. 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 business’s 50 day moving average is $30.99 and its 200-day moving average is $34.66. Bullish has a 1 year low of $21.76 and a 1 year high of $118.00.

Bullish (NYSE:BLSH) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. Bullish’s revenue was up 48.8% on a year-over-year basis. On average, equities research analysts forecast that Bullish will post 0.6 EPS for the current fiscal year.

Insider Transactions at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of Bullish 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Bullish

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLSH. Barclays PLC acquired a new stake in shares of Bullish in the third quarter valued at about $2,189,000. Private Advisor Group LLC acquired a new position in shares of Bullish during the 3rd quarter worth about $223,000. Legal & General Group Plc acquired a new position in shares of Bullish during the 3rd quarter worth about $213,000. Franklin Resources Inc. acquired a new stake in Bullish in the 3rd quarter worth about $2,544,000. Finally, UBS Group AG acquired a new stake in Bullish in the 3rd quarter worth about $14,211,000.

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.