Bullish (NYSE:BLSH) Stock Rated “Hold” by Wall Street Brokerages

Bullish (NYSE:BLSH) has been assigned an average recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and five 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 $44.36.

Several equities analysts have recently issued reports on BLSH shares. JPMorgan Chase & Co. reduced their target price on Bullish from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 14th. Compass Point upgraded Bullish from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $51.00 in a report on Monday, September 14th. Weiss Ratings upgraded Bullish from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. Rosenblatt Securities cut their price objective on Bullish from $42.50 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Finally, Zacks Research upgraded Bullish from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st.

Hedge Funds Weigh In On Bullish

A number of hedge funds and other institutional investors have recently made changes to their positions in BLSH. Essential Partners LLC bought a new position in Bullish during the first quarter valued at about $27,000. SteelPeak Wealth LLC raised its position in Bullish by 13.5% in the first quarter. SteelPeak Wealth LLC now owns 8,577 shares of the company’s stock worth $306,000 after acquiring an additional 1,019 shares during the period. Lazard Asset Management LLC raised its position in Bullish by 1.4% in the first quarter. Lazard Asset Management LLC now owns 136,453 shares of the company’s stock worth $4,875,000 after acquiring an additional 1,871 shares during the period. CoreCap Advisors LLC bought a new stake in Bullish in the third quarter worth about $67,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Bullish in the second quarter valued at about $59,000.

Bullish Stock Down 7.3%

Bullish stock opened at $27.34 on Tuesday. Bullish has a fifty-two week low of $20.55 and a fifty-two week high of $60.14. The stock has a market cap of $4.12 billion, a PE ratio of -2.95 and a beta of 0.70. The firm’s 50-day simple moving average is $32.89 and its 200 day simple moving average is $31.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 22.41 and a current ratio of 23.52.

Bullish (NYSE:BLSH) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $92.62 million during the quarter. Bullish had a negative net margin of 389.38% and a positive return on equity of 2.48%. The company’s revenue for the quarter was up 62.5% on a year-over-year basis. Research analysts predict that Bullish will post 0.46 EPS for the current fiscal year.

Bullish Company Profile

Bullish is a digital asset trading and financial technology company that operates a regulated cryptocurrency exchange. Its platform is designed to provide trading and market infrastructure for digital assets, including spot trading and other services for institutional and professional investors.

The company’s offerings include access to cryptocurrency markets, custody and settlement capabilities, and tools intended to support liquidity, execution and portfolio management. Bullish also publishes digital asset market news and analysis through its media operations.

Bullish was established in 2021 and launched its exchange that year.