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

Bullish (NYSE:BLSH) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $51.9167.

BLSH has been the topic of several research reports. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. cut their price target on Bullish from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. 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. Cantor Fitzgerald lifted their price target on shares of Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Finally, Citigroup lowered their price target on shares of Bullish from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th.

Bullish Stock Performance

Shares of Bullish stock opened at $34.85 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The firm has a market cap of $5.26 billion and a P/E ratio of -5.32. The firm has a 50 day simple moving average of $38.58 and a 200 day simple moving average of $38.18. Bullish has a fifty-two week low of $24.79 and a fifty-two week high of $118.00.

Bullish (NYSE:BLSH) last issued its quarterly earnings results 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). 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. Bullish’s revenue for the quarter was up 48.8% on a year-over-year basis. Sell-side analysts predict that Bullish will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BLSH. ARK Investment Management LLC bought a new position in shares of Bullish in the 3rd quarter worth $163,904,000. Amova Asset Management Americas Inc. acquired a new position in shares of Bullish during the 3rd quarter worth about $91,431,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Bullish by 51.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock worth $136,985,000 after buying an additional 1,304,573 shares during the period. Invesco Ltd. acquired a new position in shares of Bullish during the 3rd quarter worth about $74,658,000. Finally, UBS Group AG grew its position in shares of Bullish by 486.1% during the 4th quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock worth $49,581,000 after buying an additional 1,085,846 shares during the period.

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.