Bullish (NYSE:BLSH) Hits New 1-Year Low on Analyst Downgrade

Bullish (NYSE:BLSH) hit a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $43.00 to $26.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bullish traded as low as $23.88 and last traded at $23.76, with a volume of 2225148 shares changing hands. The stock had previously closed at $25.96.

BLSH has been the subject of a number of other reports. Citigroup reduced their target price 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. Wall Street Zen downgraded Bullish from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Rosenblatt Securities lifted their price objective on Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $61.00 price objective on shares of Bullish in a research report on Friday, May 15th. Finally, Cantor Fitzgerald lifted their price objective on Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bullish has an average rating of “Hold” and a consensus target price of $50.67.

Insider Buying and Selling

In other Bullish news, CEO Thomas W. Farley sold 80,000 shares of Bullish 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 sale, the chief executive officer 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 Securities & Exchange Commission, which is available through the SEC website.

Trending Headlines about Bullish

Here are the key news stories impacting Bullish this week:

• Negative Sentiment: JPMorgan cut Bullish’s price target to $26 from $43 and maintained a neutral rating, which suggests softer upside expectations and may have weighed on the stock. Benzinga report on JPMorgan target cut
• Neutral Sentiment: Broader analyst commentary across the market remains mixed, with some sectors and peers seeing upgrades while others face downgrades; this does not directly change Bullish’s fundamentals but reflects a cautious analyst backdrop. Benzinga market analyst roundup

Institutional Investors Weigh In On Bullish

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC purchased a new stake in Bullish in the first quarter valued at $27,000. J. Derek Lewis & Associates Inc. lifted its stake in Bullish by 59.1% during the first quarter. J. Derek Lewis & Associates Inc. now owns 14,000 shares of the company’s stock worth $500,000 after purchasing an additional 5,200 shares in the last quarter. Bank of America Corp DE lifted its stake in Bullish by 145.0% during the first quarter. Bank of America Corp DE now owns 113,508 shares of the company’s stock worth $4,056,000 after purchasing an additional 67,173 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Bullish in the 1st quarter valued at $7,830,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Bullish in the 1st quarter valued at $2,457,000.

Bullish Price Performance

The company has a current ratio of 26.42, a quick ratio of 25.23 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.58 billion and a PE ratio of -3.63. The company has a fifty day moving average of $36.53 and a 200-day moving average of $37.11.

Bullish (NYSE:BLSH) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The company’s quarterly revenue was up 48.8% on a year-over-year basis. Sell-side analysts expect that Bullish will post 0.72 EPS for the current fiscal year.

Bullish Company Profile

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.