Wall Street Zen Upgrades Bullish (NYSE:BLSH) to “Hold”

Bullish (NYSE:BLSH) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Monday.

Several other research firms have also issued reports on BLSH. Cantor Fitzgerald boosted their target price on shares of Bullish from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $61.00 price target on shares of Bullish 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. Rosenblatt Securities boosted their price objective on Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. cut their target price on Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.67.

Bullish Price Performance

Shares of BLSH opened at $23.77 on Monday. Bullish has a 1 year low of $20.55 and a 1 year high of $118.00. 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 company has a market capitalization of $3.58 billion and a price-to-earnings ratio of -3.63. The business has a 50-day moving average of $25.61 and a 200-day moving average of $32.57.

Bullish (NYSE:BLSH) last announced its earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate 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 revenue was up 48.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Bullish will post 0.54 earnings per share for the current year.

Insider Transactions at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of the 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 transaction, the chief executive officer directly owned 80,000 shares of the company’s stock, valued at $3,516,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Bullish

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC bought a new position in shares of Bullish during the 3rd quarter worth about $2,189,000. Private Advisor Group LLC bought a new stake in Bullish in the 3rd quarter valued at about $223,000. Legal & General Group Plc acquired a new position in Bullish during the 3rd quarter worth approximately $213,000. Franklin Resources Inc. bought a new position in Bullish in the third quarter worth approximately $2,544,000. Finally, UBS Group AG bought a new position in Bullish in the third quarter worth approximately $14,211,000.

Bullish News Summary

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Digital-asset distribution offering: Equiniti and Bullish are supporting Elemental Royalty’s dividend distribution, including an option for eligible shareholders to receive payment in Tether Gold (XAU₮). The initiative highlights Bullish’s potential utility in connecting traditional corporate distributions with blockchain-based assets, which could support longer-term adoption and transaction activity. Equiniti and Bullish Support Elemental Royalty Dividend Distribution Offering
• Neutral Sentiment: Analyst rating raised to Hold: Wall Street Zen upgraded its view of Bullish to Hold. The change may reduce downside concerns, but a Hold rating does not signal strong conviction that the stock will outperform. Bullish Upgraded by Wall Street Zen to Hold Rating
• Negative Sentiment: Profitability remains a risk: Bullish recently missed quarterly earnings expectations, reported a substantial net loss, and trades below its 50-day and 200-day moving averages. The company’s revenue growth was strong, but investors may remain focused on whether higher activity can translate into sustainable profits.

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.