Bullish (NYSE:BLSH) Shares Up 6.6% – Here’s What Happened

Bullish (NYSE:BLSH) shares traded up 6.6% during trading on Tuesday . The company traded as high as $43.95 and last traded at $43.7550. 610,167 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 4,130,053 shares. The stock had previously closed at $41.03.

Analyst Ratings Changes

BLSH has been the topic of several recent analyst reports. Canaccord Genuity Group reduced their target price on Bullish from $68.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Keefe, Bruyette & Woods started coverage on shares of Bullish in a report on Monday, September 15th. They set a “market perform” rating and a $55.00 price objective on the stock. Wall Street Zen downgraded Bullish from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Rosenblatt Securities reduced their price objective on Bullish from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Finally, Zacks Research raised Bullish to a “hold” rating in a research report on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.92.

Bullish Stock Performance

The company has a market capitalization of $6.43 billion and a P/E ratio of 2,195.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 22.75 and a current ratio of 24.59. The company’s fifty day moving average is $52.62.

Bullish (NYSE:BLSH) last issued its earnings results on Wednesday, September 17th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $57.00 million for the quarter, compared to analyst estimates of $55.91 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tradewinds Capital Management LLC acquired a new stake in shares of Bullish during the third quarter worth $25,000. Ameritas Advisory Services LLC acquired a new stake in Bullish during the third quarter worth approximately $29,000. CWM LLC bought a new position in shares of Bullish in the third quarter worth $31,000. 10Elms LLP bought a new stake in shares of Bullish during the 3rd quarter worth approximately $32,000. Finally, Tsfg LLC bought a new position in shares of Bullish in the 3rd quarter valued at $45,000.

Bullish Company Profile

Bullish is an institutionally focused global digital asset platform that provides market infrastructure and information services. Our objective is to provide mission critical products and services that are designed to help institutions grow their businesses, empower individual customers, and drive the adoption of stablecoins, digital assets, and blockchain technology.