Bullish’s (NYSE:BLSH) Lock-Up Period Will Expire on February 9th

Bullish’s (NYSE:BLSH) lock-up period will expire on Monday, February 9th. Bullish had issued 30,000,000 shares in its IPO on August 13th. The total size of the offering was $1,110,000,000 based on an initial share price of $37.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Bullish from a “hold” rating to a “buy” rating and decreased their target price for the company from $52.00 to $51.00 in a research report on Wednesday, November 19th. Canaccord Genuity Group decreased their price objective on shares of Bullish from $68.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Wall Street Zen downgraded shares of Bullish from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $50.00 price target on shares of Bullish in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.25.

Bullish Stock Down 8.6%

Bullish stock opened at $24.85 on Friday. The company has a quick ratio of 36.58, a current ratio of 38.78 and a debt-to-equity ratio of 0.13. Bullish has a 12-month low of $24.79 and a 12-month high of $118.00. The company’s fifty day moving average is $39.61. The firm has a market cap of $3.63 billion and a P/E ratio of 1,242.55.

Bullish (NYSE:BLSH) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($3.73) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($3.89). Bullish had a negative return on equity of 6.70% and a negative net margin of 0.04%.The company had revenue of $92.50 million during the quarter. During the same period last year, the firm earned $1.37 EPS. The company’s revenue for the quarter was up 67.6% on a year-over-year basis.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Revenue and product traction: Bullish reported revenue of $92.5M for Q4, up ~67.6% year‑over‑year, and management highlighted growth in bitcoin options trading and institutional activity—evidence of accelerating core business usage. Bullish Reports Fourth Quarter 2025 Results
• Positive Sentiment: Institutional investor interest: Reports show ARK Invest and Cathie Wood were active buyers of crypto-related stocks, including BLSH, which can provide a supportive demand backdrop even amid wider crypto volatility. ARK Invest Bets $60,900,000 on Seven Crypto-Related Stocks Cathie Wood Scoops Crypto Stocks
• Neutral Sentiment: Macro/crypto context: Industry surveys and commentary (e.g., Finder bitcoin forecast) are cautiously bullish on BTC for 2026 — a higher BTC backdrop could lift Bullish’s volumes, but crypto volatility still creates execution risk. Finder’s Latest Survey Predicts Bitcoin at $133K by End of 2026
• Neutral Sentiment: Call and metrics disclosure: The Q4 earnings call transcript and the company’s January monthly metrics provide detail on spreads, volumes and product trends for investors who want to parse whether revenue growth can translate into sustainable profitability. Bullish Q4 2025 Earnings Call Transcript Bullish releases January 2026 monthly metrics
• Negative Sentiment: Big EPS miss and headline loss: Bullish reported GAAP EPS of ($3.73) vs. expectations near $0.16, producing a quarterly loss and sparking a sharp intraday reaction as investors re‑rate near‑term profitability and guidance. Bullish reports Q4 loss as bitcoin options trading grows, shares whipsaw after earnings
• Negative Sentiment: Share-price technical and volume pressure: Trading showed heavy volume and the stock sits well below its 50‑day moving average (~$39.61), increasing downside risk for momentum-driven holders. (See the earnings/market recap for supporting figures.) MarketBeat: Bullish earnings recap

Institutional Investors Weigh In On Bullish

A number of hedge funds have recently added to or reduced their stakes in BLSH. Stephens Investment Management Group LLC increased its holdings in shares of Bullish by 99.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 850,248 shares of the company’s stock valued at $32,199,000 after acquiring an additional 424,523 shares in the last quarter. Benjamin Edwards Inc. grew its position in Bullish by 73.4% in the 4th quarter. Benjamin Edwards Inc. now owns 19,892 shares of the company’s stock valued at $753,000 after purchasing an additional 8,420 shares during the period. Strs Ohio bought a new stake in Bullish during the 4th quarter valued at $30,000. R Squared Ltd acquired a new position in Bullish during the fourth quarter worth $240,000. Finally, UBS Group AG lifted its stake in shares of Bullish by 486.1% in the fourth quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock valued at $49,581,000 after buying an additional 1,085,846 shares in the last quarter.

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.