Bullish (NYSE:BLSH) Receives Average Rating of “Hold” from Analysts

Bullish (NYSE:BLSH) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $50.6667.

BLSH has been the topic of a number of recent analyst reports. Rosenblatt Securities upped their price target on shares of Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research note on Monday. Zacks Research lowered Bullish from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Cantor Fitzgerald lifted their target price on Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th.

Insider Activity

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 directly owned 80,000 shares in the company, valued at $3,516,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Trading of Bullish

Hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB purchased a new position in Bullish during the second quarter valued at approximately $330,000. Essential Partners LLC purchased a new stake in Bullish during the first quarter worth $27,000. J. Derek Lewis & Associates Inc. grew its position in Bullish by 59.1% during the first quarter. J. Derek Lewis & Associates Inc. now owns 14,000 shares of the company’s stock valued at $500,000 after buying an additional 5,200 shares during the period. Bank of America Corp DE raised its position in shares of Bullish by 145.0% in the first quarter. Bank of America Corp DE now owns 113,508 shares of the company’s stock worth $4,056,000 after acquiring an additional 67,173 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Bullish during the 1st quarter valued at about $7,830,000.

Bullish Trading Down 0.1%

Shares of NYSE:BLSH opened at $23.77 on Thursday. The business’s 50-day moving average is $25.39 and its 200 day moving average is $32.47. 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 has a 1 year low of $20.55 and a 1 year high of $118.00. The firm has a market capitalization of $3.59 billion and a P/E ratio of -3.63.

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). The business had revenue of $92.83 million for the quarter. Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The business’s revenue for the quarter was up 48.8% on a year-over-year basis. On average, research analysts predict that Bullish will post 0.54 earnings per share for the current fiscal year.

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.