Bullish (NYSE:BLSH) Trading Up 9.8% – What’s Next?

Shares of Bullish (NYSE:BLSH) were up 9.8% during trading on Wednesday . The stock traded as high as $36.46 and last traded at $36.3550. Approximately 865,096 shares were traded during trading, a decline of 60% from the average daily volume of 2,140,330 shares. The stock had previously closed at $33.12.

Analysts Set New Price Targets

BLSH has been the topic of several recent analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Bullish in a report on Tuesday, January 6th. Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. cut their price target on Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Bullish in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft raised Bullish from a “hold” rating to a “buy” rating and lowered their price target for the company from $52.00 to $51.00 in a research report on Wednesday, November 19th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.08.

Bullish Price Performance

The business’s 50 day simple moving average is $35.05 and its 200-day simple moving average is $46.77. The stock has a market capitalization of $5.37 billion and a price-to-earnings ratio of 366.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28.

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

Institutional Trading of Bullish

A number of hedge funds have recently modified their holdings of BLSH. Tradewinds Capital Management LLC purchased a new position in shares of Bullish during the third quarter valued at $25,000. Ameritas Advisory Services LLC purchased a new position in Bullish during the third quarter valued at approximately $29,000. CWM LLC acquired a new position in Bullish in the 3rd quarter valued at approximately $31,000. 10Elms LLP purchased a new stake in Bullish in the 3rd quarter worth approximately $32,000. Finally, Tsfg LLC acquired a new stake in shares of Bullish during the 3rd quarter valued at $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.