Bullish (NYSE:BLSH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bullish (NYSE:BLSH) from a sell rating to a hold rating in a research report released on Saturday.

Several other equities research analysts also recently issued reports on BLSH. JPMorgan Chase & Co. cut their price objective on Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Zacks Research cut shares of Bullish from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Rosenblatt Securities lifted their price objective on shares of Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $61.00 target price on shares of Bullish in a research note on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a report on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.67.

Bullish Trading Up 1.4%

Shares of BLSH stock opened at $22.73 on Friday. Bullish has a 1-year low of $21.76 and a 1-year high of $118.00. The firm has a market cap of $3.43 billion and a PE ratio of -3.47. The company has a 50-day moving average of $28.70 and a two-hundred day moving average of $33.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23.

Bullish (NYSE:BLSH) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (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 company had revenue of $92.83 million during the quarter. The company’s quarterly revenue was up 48.8% compared to the same quarter last year. On average, analysts predict that Bullish will post 0.54 EPS for the current year.

Insider Buying and Selling at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of the business’s stock in a transaction on 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 approximately $3,516,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in shares of Bullish in the fourth quarter valued at approximately $28,000. Essential Partners LLC purchased a new position in Bullish during the 1st quarter worth $27,000. MetLife Investment Management LLC acquired a new position in Bullish in the fourth quarter valued at $30,000. Strs Ohio acquired a new position in Bullish in the fourth quarter valued at $30,000. Finally, Allworth Financial LP purchased a new stake in shares of Bullish in the third quarter valued at about $65,000.

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.