Citigroup Has Lowered Expectations for Bullish (NYSE:BLSH) Stock Price

Bullish (NYSE:BLSH) had its target price dropped by research analysts at Citigroup from $77.00 to $67.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 49.93% from the stock’s current price.

A number of other analysts have also recently weighed in on BLSH. Compass Point reaffirmed a “neutral” rating on shares of Bullish in a research report on Thursday, September 18th. Oppenheimer assumed coverage on shares of Bullish in a research report on Monday, September 8th. They issued a “market perform” rating on the stock. New Street Research set a $56.00 price objective on Bullish in a research report on Thursday, September 18th. Sanford C. Bernstein initiated coverage on shares of Bullish in a research report on Monday, September 8th. They issued a “market perform” rating and a $60.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on Bullish in a report on Monday, September 8th. They set a “hold” rating and a $49.00 price objective for the company. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.67.

Bullish Stock Up 4.2%

Shares of NYSE:BLSH opened at $44.69 on Monday. The firm has a market cap of $6.53 billion and a price-to-earnings ratio of 2,234.45. Bullish has a 12-month low of $34.24 and a 12-month high of $118.00. The company has a quick ratio of 22.75, a current ratio of 38.78 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average is $46.99.

Hedge Funds Weigh In On Bullish

A number of large investors have recently added to or reduced their stakes in BLSH. Tradewinds Capital Management LLC bought a new position in shares of Bullish during the 3rd quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in Bullish in the 3rd quarter valued at about $29,000. CWM LLC bought a new position in shares of Bullish during the 3rd quarter worth approximately $31,000. 10Elms LLP bought a new position in Bullish during the third quarter worth $32,000. Finally, Tsfg LLC bought a new stake in shares of Bullish during the 3rd quarter worth about $45,000.

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.