Bullish (NYSE:BLSH) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Bullish (NYSE:BLSH) from a sell rating to a hold rating in a research note released on Monday.

BLSH has been the subject of a number of other research reports. Rosenblatt Securities boosted their target price on shares of Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Citigroup reiterated a “buy” rating on shares of Bullish in a report on Monday, July 27th. JPMorgan Chase & Co. cut their price objective on Bullish from $43.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, June 16th. Zacks Research cut Bullish from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Bullish in a research report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.67.

Bullish Price Performance

Bullish stock opened at $22.95 on Monday. The stock has a market capitalization of $3.46 billion and a P/E ratio of -3.50. The company’s fifty day moving average price is $25.83 and its 200 day moving average price is $32.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42. Bullish has a 1 year low of $20.55 and a 1 year high of $118.00.

Bullish (NYSE:BLSH) last posted its quarterly earnings data 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 company 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 firm’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 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 dated Monday, May 11th. The shares were 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 of the company’s stock, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Institutional Trading of Bullish

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

More Bullish News

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Wall Street Zen upgraded Bullish to a Hold rating. Although Hold is not a bullish recommendation, the upgrade suggests the firm’s outlook has become less negative and may provide modest support for the shares. Bullish Upgraded by Wall Street Zen to Hold Rating
• Neutral Sentiment: A separate report compares Bullish with Securitize in a financial survey. The article does not announce a new partnership, earnings development, or material change to Bullish’s business outlook, so it is unlikely to be a significant near-term stock catalyst. Bullish vs. Securitize Financial Survey

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.