Bullish (NYSE:BLSH) Trading 8.5% Higher – Should You Buy?

Shares of Bullish (NYSE:BLSH) traded up 8.5% during trading on Monday . The stock traded as high as $39.86 and last traded at $39.7360. 1,097,516 shares were traded during trading, a decline of 46% from the average session volume of 2,034,907 shares. The stock had previously closed at $36.62.

Wall Street Analyst Weigh In

BLSH has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Bullish from a “hold” rating to a “buy” rating and reduced their price target for the company from $52.00 to $51.00 in a report on Wednesday, November 19th. Citigroup reduced their target price on shares of Bullish from $77.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Canaccord Genuity Group dropped their target price on shares of Bullish from $68.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bullish presently has a consensus rating of “Hold” and an average price target of $52.08.

Bullish Stock Up 7.8%

The company has a quick ratio of 27.69, a current ratio of 29.28 and a debt-to-equity ratio of 0.15. The stock has a market cap of $5.96 billion and a PE ratio of 393.89. The business has a 50 day moving average price of $34.43 and a 200 day moving average price of $45.15.

Bullish (NYSE:BLSH) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The business had revenue of $92.50 million for the quarter. During the same quarter in the prior year, the company earned $1.37 EPS. The company’s quarterly revenue was up 67.6% compared to the same quarter last year.

Institutional Trading of Bullish

A number of hedge funds and other institutional investors have recently modified their holdings of BLSH. Tradewinds Capital Management LLC purchased a new stake in Bullish during the third quarter worth about $25,000. Rakuten Securities Inc. purchased a new position in Bullish during the 4th quarter worth $28,000. Ameritas Advisory Services LLC acquired a new stake in Bullish during the 3rd quarter worth approximately $29,000. Strs Ohio acquired a new stake in shares of Bullish during the fourth quarter worth $30,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Bullish in the fourth quarter valued at about $30,000.

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.