Bullish (NYSE:BLSH) Raised to “Hold” at Wall Street Zen

Bullish (NYSE:BLSH) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday.

BLSH has been the subject of a number of other research reports. Canaccord Genuity Group dropped their target price on shares of Bullish from $68.00 to $50.00 and set a “buy” rating for the company in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a research note on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Sanford C. Bernstein restated a “market perform” rating and set a $50.00 target price on shares of Bullish in a report on Tuesday, January 6th. Finally, Citigroup dropped their price target on Bullish from $77.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Five equities research 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’s stock. According to data from MarketBeat, Bullish presently has an average rating of “Hold” and an average target price of $52.08.

Bullish Trading Up 0.3%

BLSH stock opened at $30.73 on Monday. Bullish has a 12-month low of $24.79 and a 12-month high of $118.00. The business has a 50-day moving average price of $36.12. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15. The firm has a market cap of $4.49 billion and a PE ratio of 307.30.

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 firm had revenue of $92.50 million during the quarter. During the same quarter in the previous year, the company earned $1.37 earnings per share. Bullish’s revenue was up 67.6% on a year-over-year basis.

Institutional Investors Weigh In On Bullish

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLSH. Nwam LLC purchased a new position in Bullish in the 3rd quarter valued at approximately $4,540,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Bullish in the third quarter valued at $91,782,000. Renaissance Capital LLC purchased a new position in Bullish in the third quarter valued at $2,436,000. Principal Financial Group Inc. purchased a new position in Bullish in the third quarter valued at $7,034,000. Finally, Stephens Investment Management Group LLC acquired a new position in Bullish during the 3rd quarter worth $27,080,000.

About Bullish

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.