Canaccord Genuity Group Cuts Bullish (NYSE:BLSH) Price Target to $45.00

Bullish (NYSE:BLSH) had its target price reduced by Canaccord Genuity Group from $50.00 to $45.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

BLSH has been the subject of several other research reports. Wall Street Zen upgraded shares of Bullish from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Cantor Fitzgerald upped their price target on shares of Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research report on Wednesday, June 24th. JPMorgan Chase & Co. decreased their price objective on shares of Bullish from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Finally, Zacks Research lowered Bullish from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Bullish presently has an average rating of “Hold” and an average target price of $48.92.

Bullish Stock Performance

NYSE BLSH opened at $26.85 on Monday. The business’s 50 day moving average price is $24.40 and its 200-day moving average price is $31.66. Bullish has a fifty-two week low of $20.55 and a fifty-two week high of $74.98. The company has a market cap of $4.05 billion and a P/E ratio of -2.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 22.41 and a current ratio of 23.52.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. purchased a new position in Bullish in the 4th quarter worth about $28,000. Essential Partners LLC purchased a new stake in Bullish in the 1st quarter valued at about $27,000. MetLife Investment Management LLC bought a new position in Bullish in the 4th quarter worth about $30,000. Strs Ohio purchased a new position in shares of Bullish during the fourth quarter worth approximately $30,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Bullish during the fourth quarter worth approximately $61,000.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Bullish began trading its own tokenized stock, highlighting the company’s efforts to expand blockchain-based securities and potentially supporting long-term growth prospects. Bullish Begins Trading Its Own Tokenized Stock
• Neutral Sentiment: Options-market activity has attracted attention, but the available report does not establish whether traders are positioning for a sustained rally or increased volatility. Do Options Traders Know Something About Bullish Stock We Don’t?
• Negative Sentiment: Canaccord Genuity lowered its expectations for Bullish’s stock price, creating a counterweight to the tokenization news and signaling more cautious analyst sentiment. Canaccord Genuity Group Has Lowered Expectations for Bullish Stock Price

About Bullish

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.