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

Bullish (NYSE:BLSH) has received a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $50.6667.

Several brokerages have commented on BLSH. Rosenblatt Securities increased their target price on Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lowered their price target on Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday. Wall Street Zen cut Bullish from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a report on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $61.00 price target on shares of Bullish in a report on Friday, May 15th.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Neutral Sentiment: JPMorgan lowered its price target on Bullish to $26 from $43 and maintained a neutral rating, signaling a more cautious outlook on the stock’s valuation and near-term upside. JPMorgan lowers Bullish price target
• Negative Sentiment: The downgrade comes as Bullish already trades near its 52-week low, far below its 50-day and 200-day moving averages, highlighting ongoing pressure on sentiment after a recent earnings miss and weak net margin.
• Neutral Sentiment: Recent broader market headlines using the word “bullish” across crypto and other stocks do not appear to be company-specific drivers for Bullish and are unlikely to materially affect BLSH shares.

Insider Buying and Selling at Bullish

In other news, CEO Thomas W. Farley sold 80,000 shares of the stock in a transaction on Monday, May 11th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Bullish

A number of institutional investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC purchased a new position in shares of Bullish during the third quarter valued at about $29,000. 10Elms LLP bought a new stake in shares of Bullish during the third quarter valued at approximately $32,000. Rakuten Securities Inc. bought a new stake in shares of Bullish during the fourth quarter valued at approximately $28,000. Essential Partners LLC bought a new position in Bullish in the first quarter worth approximately $27,000. Finally, MetLife Investment Management LLC bought a new position in Bullish in the fourth quarter worth approximately $30,000.

Bullish Stock Down 9.2%

BLSH stock opened at $25.98 on Wednesday. Bullish has a fifty-two week low of $24.79 and a fifty-two week high of $118.00. The business’s 50 day moving average price is $36.53 and its two-hundred day moving average price is $37.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42. The company has a market capitalization of $3.92 billion and a price-to-earnings ratio of -3.97.

Bullish (NYSE:BLSH) last posted its 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 positive return on equity of 1.82% and a negative net margin of 314.40%.The firm had revenue of $92.83 million for the quarter. The company’s quarterly revenue was up 48.8% on a year-over-year basis. As a group, analysts forecast that Bullish will post 0.72 earnings per share 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.